D.A. Davidson & CO. Has $34.06 Million Stake in The Charles Schwab Corporation $SCHW

D.A. Davidson & CO. lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 373,292 shares of the financial services provider’s stock after selling 6,967 shares during the quarter. D.A. Davidson & CO.’s holdings in Charles Schwab were worth $34,059,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Charles Schwab by 595.7% in the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after acquiring an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Charles Schwab by 12.3% in 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 acquiring an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC bought a new position in Charles Schwab during the first quarter valued at about $440,699,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. The trade was a 29.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The stock was 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 of the company’s stock, valued at approximately $3,956,519.28. This represents 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 over the last quarter. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $95.12 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $172.66 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The firm’s fifty day simple moving average is $94.55 and its 200 day simple moving average is $89.98. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. As a group, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is currently 25.29%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCHW. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Citigroup raised their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

About Charles Schwab

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.