Diversify Wealth Management LLC Buys Shares of 4,714 The Charles Schwab Corporation (NYSE:SCHW)

Diversify Wealth Management LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,714 shares of the financial services provider's stock, valued at approximately $383,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. Atwood & Palmer Inc. bought a new stake in Charles Schwab during the first quarter worth about $25,000. Westside Investment Management Inc. lifted its stake in 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 last quarter. WFA Asset Management Corp bought a new stake in Charles Schwab during the first quarter worth about $33,000. Cornerstone Planning Group LLC lifted its stake in Charles Schwab by 90.5% during the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after purchasing an additional 220 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Charles Schwab during the fourth quarter worth about $38,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 2.0%

Shares of SCHW stock traded up $1.86 during midday trading on Thursday, reaching $93.12. 12,569,078 shares of the stock were exchanged, compared to its average volume of 9,359,606. The Charles Schwab Corporation has a 1 year low of $61.15 and a 1 year high of $93.69. The company's 50 day moving average is $89.21 and its two-hundred day moving average is $81.89. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $169.19 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93.

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

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid 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 1.16%. Charles Schwab's payout ratio is currently 32.73%.

Insider Buying and Selling

In related news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director owned 105,654 shares in the company, valued at $9,303,891.24. This represents a 7.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the sale, the insider owned 58,999 shares in the company, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,905 shares of company stock worth $10,530,833 over the last three months. Corporate insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCHW. Truist Financial boosted their target price on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Morgan Stanley reissued an "overweight" rating and issued a $117.00 target price (up previously from $83.00) on shares of Charles Schwab in a research note on Tuesday. Wells Fargo & Company boosted their target price on Charles Schwab from $87.00 to $102.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. JMP Securities boosted their target price on Charles Schwab from $94.00 to $106.00 and gave the company a "market outperform" rating in a research note on Monday. Finally, Raymond James Financial boosted their target price on Charles Schwab from $91.00 to $99.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $95.60.

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.