Banque Cantonale Vaudoise Takes Position in The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• Banque Cantonale Vaudoise invested approximately $1.58 million in The Charles Schwab Corporation, acquiring 20,119 shares of the company in the 1st quarter.
• Institutional investors hold a significant stake in Charles Schwab, with 84.38% of the company's stock owned by them.
• Charles Schwab recently announced a quarterly dividend of $0.27, with an annualized dividend yield of 1.10%, along with a $20 billion stock buyback program.

Banque Cantonale Vaudoise bought a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,119 shares of the financial services provider's stock, valued at approximately $1,576,000.

Several other hedge funds have also made changes to their positions in the stock. Kovitz Investment Group Partners LLC lifted its stake in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC lifted its stake in Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after purchasing an additional 3,974,940 shares during the period. Marshall Wace LLP lifted its stake in Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after purchasing an additional 3,684,640 shares during the period. PointState Capital LP bought a new position in Charles Schwab during the fourth quarter worth about $237,280,000. Finally, Farallon Capital Management LLC bought a new position in Charles Schwab during the fourth quarter worth about $234,538,000. Institutional investors own 84.38% of the company's stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded down $2.16 during midday trading on Friday, reaching $95.57. The company had a trading volume of 9,790,479 shares, compared to its average volume of 8,649,078. 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 company has a market capitalization of $173.65 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The stock has a fifty day simple moving average of $91.28 and a 200 day simple moving average of $83.66. The Charles Schwab Corporation has a 1-year low of $61.15 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. Charles Schwab's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued 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 of this dividend is Friday, August 8th. Charles Schwab's payout ratio is currently 29.03%.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the sale, the insider owned 35,864 shares of the company's stock, valued at approximately $3,261,830.80. The trade was a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director directly owned 105,654 shares of the company's stock, valued at $9,303,891.24. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,726 shares of company stock worth $29,025,396. Corporate insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

SCHW has been the subject of a number of analyst reports. Morgan Stanley raised their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research note on Tuesday. Truist Financial raised their price target on shares of Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Piper Sandler lifted their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. 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 research note on Monday, June 9th. Finally, Barclays lifted their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $99.35.

Charles Schwab 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.