Wedbush Securities Inc. Has $1.67 Million Position in The Charles Schwab Corporation $SCHW

Wedbush Securities Inc. boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,285 shares of the financial services provider’s stock after purchasing an additional 2,121 shares during the period. Wedbush Securities Inc.’s holdings in Charles Schwab were worth $1,668,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after buying an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Northern Trust Corp lifted its holdings in Charles Schwab by 10.8% in the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after buying an additional 1,700,384 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Charles Schwab by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after purchasing an additional 2,355,309 shares during the period. Finally, Invesco Ltd. lifted its stake in Charles Schwab by 5.0% in the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after buying an additional 743,906 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.2%

Shares of SCHW opened at $95.33 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 Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a market cap of $173.05 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02. The firm has a 50 day simple moving average of $94.03 and a two-hundred day simple moving average of $91.87.

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

Charles Schwab announced that its board has authorized a share repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Charles Schwab Announces Dividend

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

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated 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 transaction, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,866 shares of company stock worth $6,370,897 in the last 90 days. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SCHW shares. TD Cowen increased their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

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.