HB Wealth Management LLC Boosts Stock Position in The Charles Schwab Corporation $SCHW

HB Wealth Management LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 31.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,358 shares of the financial services provider’s stock after buying an additional 13,517 shares during the quarter. HB Wealth Management LLC’s holdings in Charles Schwab were worth $5,381,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SCHW. Federated Hermes Inc. boosted its stake in Charles Schwab by 2,112.7% during the 2nd quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock worth $16,587,000 after purchasing an additional 173,577 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after buying an additional 40,275 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new position in Charles Schwab during the second quarter worth about $924,000. PFG Investments LLC grew its stake in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 550 shares in the last quarter. Finally, W.H. Cornerstone Investments Inc. acquired a new stake in Charles Schwab in the 2nd quarter valued at about $246,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total transaction of $204,020.00. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,216,265.23. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price target on Charles Schwab from $113.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Barclays raised their target price on Charles Schwab from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America boosted their price target on shares of Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a research report on Wednesday, December 10th. Finally, TD Cowen raised their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $111.25.

Charles Schwab Stock Down 1.1%

Shares of SCHW opened at $100.19 on Friday. The company’s 50-day moving average price is $96.33 and its 200 day moving average price is $95.06. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $104.76. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $178.03 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.