9,381 Shares in The Charles Schwab Corporation $SCHW Acquired by AXQ Capital LP

AXQ Capital LP bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,381 shares of the financial services provider’s stock, valued at approximately $856,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC grew its stake in shares of Charles Schwab by 72.3% in the second quarter. Journey Strategic Wealth LLC now owns 7,729 shares of the financial services provider’s stock valued at $705,000 after buying an additional 3,243 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Charles Schwab by 2.8% during the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after acquiring an additional 815,625 shares during the period. Mediolanum International Funds Ltd grew its position in Charles Schwab by 80.0% in the 2nd quarter. Mediolanum International Funds Ltd now owns 273,458 shares of the financial services provider’s stock valued at $24,606,000 after acquiring an additional 121,531 shares in the last quarter. Entropy Technologies LP purchased a new stake in Charles Schwab during the second quarter worth about $13,021,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Charles Schwab during the second quarter worth about $501,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 68,938 shares of company stock valued at $6,671,953 over the last three months. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SCHW. TD Cowen upped their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. BMO Capital Markets began coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Trading Down 0.1%

Shares of Charles Schwab stock opened at $90.44 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $160.71 billion, a P/E ratio of 21.18, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company’s fifty day moving average is $93.88 and its two-hundred day moving average is $92.75.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. Analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.