D.A. Davidson & CO. Sells 6,967 Shares of The Charles Schwab Corporation $SCHW

Key Points

• D.A. Davidson & Co. sold 6,967 shares of The Charles Schwab Corporation, reducing its stake by 1.8% to 373,292 shares, valued at approximately $34 million.
• Analysts have mixed views on SCHW, with Zacks Research downgrading the stock from "strong-buy" to "hold," while others, like TD Cowen, have set a price target of $134 and maintained a "buy" rating.
• Charles Schwab recently declared a quarterly dividend of $0.27 per share and initiated a $20 billion share buyback program, indicating confidence in the stock's value.

D.A. Davidson & CO. reduced its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 373,292 shares of the financial services provider's stock after selling 6,967 shares during the period. D.A. Davidson & CO.'s holdings in Charles Schwab were worth $34,059,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab in the second quarter valued at about $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab in the second quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Charles Schwab in the second quarter valued at about $32,000. Westside Investment Management Inc. raised its position in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares during the period. Finally, Hoese & Co LLP raised its position in shares of Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 200 shares during the period. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SCHW shares. Zacks Research lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. TD Cowen increased their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a "buy" rating in a research report on Friday, October 17th. Piper Sandler reissued a "neutral" rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Charles Schwab in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.00.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last quarter. Insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

SCHW stock opened at $95.12 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The firm has a market cap of $172.66 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.85 and a beta of 0.97. The company's 50-day moving average price is $94.55 and its two-hundred day moving average price is $89.98.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the firm earned $0.71 EPS. The business's quarterly revenue was up 26.6% compared to the same quarter last year. On average, analysts anticipate 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, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is presently 25.29%.

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

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.

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