Charles R. Schwab Sells 62,345 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Charles Schwab Stock Performance

NYSE SCHW opened at $71.34 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a fifty day moving average price of $64.97 and a 200-day moving average price of $69.52. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The firm has a market cap of $126.87 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 1.47 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.40%. Charles Schwab’s dividend payout ratio is currently 41.49%.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays raised their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday. UBS Group dropped their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Bank of America reduced their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.59.

Institutional Investors Weigh In On Charles Schwab

Large investors have recently made changes to their positions in the business. Country Trust Bank bought a new stake in shares of Charles Schwab in the 2nd quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the second quarter valued at $27,000. Fortitude Family Office LLC grew its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. CGC Financial Services LLC purchased a new stake in Charles Schwab in the 2nd quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab during the second quarter valued at about $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

About Charles Schwab

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.