D.A. Davidson & CO. Sells 8,532 Shares of The Charles Schwab Corporation $SCHW

D.A. Davidson & CO. lessened its stake in The Charles Schwab Corporation (NYSE:SCHW) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,760 shares of the financial services provider’s stock after selling 8,532 shares during the period. D.A. Davidson & CO.’s holdings in Charles Schwab were worth $34,824,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Charles Schwab during the second quarter worth approximately $1,889,858,000. Brown Advisory Inc. grew its stake in Charles Schwab by 88.4% in the second quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after purchasing an additional 5,708,208 shares in the last quarter. Primecap Management Co. CA increased its holdings in Charles Schwab by 35.9% during the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after purchasing an additional 5,032,728 shares during the period. Bank of New York Mellon Corp raised its position in Charles Schwab by 28.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock valued at $1,293,978,000 after purchasing an additional 3,125,179 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Charles Schwab by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after buying an additional 2,786,829 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCHW. Bank of America lifted their price objective on Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a report on Wednesday, December 10th. TD Cowen boosted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Truist Financial lifted their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.84.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total value of $204,020.00. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,216,265.23. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 1.7%

NYSE SCHW opened at $101.57 on Monday. The firm has a market cap of $180.48 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $102.28. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $95.56 and a 200 day moving average price of $94.69.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab 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.