The Charles Schwab Corporation $SCHW Shares Sold by Lincoln Capital LLC

Lincoln Capital LLC reduced its position in The Charles Schwab Corporation (NYSE:SCHW) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,652 shares of the financial services provider’s stock after selling 1,265 shares during the quarter. Charles Schwab comprises approximately 1.0% of Lincoln Capital LLC’s portfolio, making the stock its 26th biggest position. Lincoln Capital LLC’s holdings in Charles Schwab were worth $4,721,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SCHW. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the first quarter worth $25,000. Westside Investment Management Inc. lifted its holdings in shares of Charles Schwab by 75.0% during 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 during the period. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter valued at $31,000. WFA Asset Management Corp acquired a new stake in Charles Schwab in the first quarter valued at $33,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 220 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SCHW. JMP Securities raised their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Truist Financial lifted their target price on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $99.60.

Insider Activity

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 308,016 shares of company stock worth $29,341,433 over the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $96.03 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $93.09 and a 200-day simple moving average of $84.92. The company has a market capitalization of $174.32 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The Charles Schwab Corporation has a twelve month low of $61.16 and a twelve month high of $99.59.

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

Charles Schwab Announces Dividend

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

Charles Schwab announced that its Board of Directors has authorized a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Charles Schwab Company 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.