Grassi Investment Management Has $10.68 Million Stock Position in The Charles Schwab Corporation $SCHW

Grassi Investment Management trimmed its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,018 shares of the financial services provider’s stock after selling 1,500 shares during the period. Grassi Investment Management’s holdings in Charles Schwab were worth $10,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. raised its position in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at approximately $31,000. Finally, Activest Wealth Management raised its holdings in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 1.5%

Charles Schwab stock opened at $94.13 on Friday. The company’s 50-day moving average is $95.37 and its 200-day moving average is $88.57. The firm has a market capitalization of $170.87 billion, a PE ratio of 25.30, a P/E/G ratio of 0.90 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a fifty-two week low of $64.07 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has approved a stock buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is currently 29.03%.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock worth $26,232,077 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. BMO Capital Markets began coverage on shares of Charles Schwab in a research note on Friday. They issued an “outperform” rating and a $110.00 price target on the stock. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Bank of America lifted their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday. Finally, Barclays lifted their target price on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Seventeen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $100.52.

Charles Schwab 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.