Aspetuck Financial Management LLC Takes Position in The Charles Schwab Corporation (NYSE:SCHW)

Aspetuck Financial Management LLC bought a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,877 shares of the financial services provider's stock, valued at approximately $538,000.

Other institutional investors have also bought and sold shares of the company. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the 1st quarter valued at approximately $25,000. WFA Asset Management Corp purchased a new stake in shares of Charles Schwab during the 1st quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $38,000. Beacon Capital Management LLC raised its position in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares during the period. Finally, Atala Financial Inc purchased a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $41,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the sale, the insider now directly owns 39,154 shares of the company's stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares of the company's stock, valued at $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,995 shares of company stock worth $10,493,320. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 0.6%

Shares of SCHW stock traded up $0.58 on Friday, reaching $90.02. 9,335,355 shares of the stock were exchanged, compared to its average volume of 9,509,581. 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 business's 50 day moving average price is $85.83 and its 200 day moving average price is $80.34. The company has a market capitalization of $163.56 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.96 and a beta of 0.94. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.86.

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

Charles Schwab Announces Dividend

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

Analyst Upgrades and Downgrades

SCHW has been the subject of several research reports. Barclays dropped their target price on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and lifted their target price for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Morgan Stanley lifted their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Truist Financial lifted their target price on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and lifted their target price for the company from $65.00 to $82.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $89.40.

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.