PDS Planning Inc Raises Stock Holdings in The Charles Schwab Corporation $SCHW

PDS Planning Inc lifted its holdings in The Charles Schwab Corporation (NYSE:SCHWFree Report) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,580 shares of the financial services provider’s stock after buying an additional 198 shares during the quarter. PDS Planning Inc’s holdings in Charles Schwab were worth $874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. RMG Wealth Management LLC bought a new position in Charles Schwab in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC grew its stake in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab in the first quarter worth approximately $31,000. Finally, Activest Wealth Management grew its stake in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research analyst reports. Bank of America increased their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, Citigroup increased their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. One research 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 assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Read Our Latest Stock Report on SCHW

Charles Schwab Stock Down 2.1%

Charles Schwab stock opened at $92.08 on Friday. 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 stock has a market capitalization of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The business has a fifty day moving average price of $94.97 and a 200-day moving average price of $89.06.

Charles Schwab (NYSE:SCHWGet Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab declared that its Board of Directors has initiated a share buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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