Traders Purchase Large Volume of Charles Schwab Call Options (NYSE:SCHW)

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) saw unusually large options trading activity on Tuesday. Stock traders purchased 32,529 call options on the stock. This is an increase of 48% compared to the average daily volume of 21,952 call options.

Charles Schwab Trading Up 0.6%

Charles Schwab stock traded up $0.58 during trading hours on Friday, hitting $90.02. The company had a trading volume of 4,994,651 shares, compared to its average volume of 9,490,643. The firm has a market cap of $163.56 billion, a P/E ratio of 27.28, a P/E/G ratio of 0.96 and a beta of 0.94. The company has a 50-day moving average price of $85.83 and a two-hundred day moving average price of $80.34. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $90.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, sell-side analysts anticipate that Charles Schwab will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.20%. Charles Schwab's dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

SCHW has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Truist Financial raised their price objective on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 22nd. UBS Group boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Finally, TD Securities increased their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and an average target price of $89.40.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now directly owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the sale, the insider now directly owns 39,154 shares of the company's stock, valued at approximately $3,524,251.54. This trade represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

A number of large investors have recently made changes to their positions in SCHW. 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 worth $11,616,380,000 after buying an additional 19,817,022 shares during the last quarter. Norges Bank acquired a new position in shares of Charles Schwab in the 4th quarter valued at $1,289,544,000. Wellington Management Group LLP raised its stake in 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 during the last quarter. Primecap Management Co. CA lifted its position in Charles Schwab by 229.3% during 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 during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

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.