Brookstone Capital Management Acquires 47,534 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Brookstone Capital Management grew its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 728.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,061 shares of the financial services provider's stock after acquiring an additional 47,534 shares during the period. Brookstone Capital Management's holdings in Charles Schwab were worth $4,232,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after buying an additional 19,195 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Charles Schwab by 27.2% in the 4th quarter. Jones Financial Companies Lllp now owns 19,767 shares of the financial services provider's stock valued at $1,463,000 after acquiring an additional 4,230 shares during the period. Proficio Capital Partners LLC acquired a new position in Charles Schwab in the 4th quarter valued at $441,000. Raymond James Financial Inc. purchased a new stake in shares of Charles Schwab during the 4th quarter worth $189,791,000. Finally, Freestone Capital Holdings LLC boosted its position in shares of Charles Schwab by 70.5% during the 4th quarter. Freestone Capital Holdings LLC now owns 6,770 shares of the financial services provider's stock worth $501,000 after purchasing an additional 2,800 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the sale, the insider directly owned 39,154 shares of the company's stock, valued at $3,524,251.54. This represents a 20.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Insiders have sold 119,905 shares of company stock worth $10,530,833 over the last quarter. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Down 0.4%

NYSE SCHW traded down $0.41 during trading on Tuesday, reaching $92.19. The company's stock had a trading volume of 3,095,336 shares, compared to its average volume of 10,290,035. The business has a 50-day moving average price of $87.69 and a 200-day moving average price of $81.01. 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 Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $92.80. The stock has a market capitalization of $167.51 billion, a PE ratio of 27.94, a PEG ratio of 0.98 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates 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. On average, research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.17%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Analysts Set New Price Targets

Several research firms recently commented on SCHW. Citigroup boosted their price objective on shares of Charles Schwab from $102.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler raised their price objective on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. TD Securities raised their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Finally, UBS Group lifted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.55.

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.