Hanson & Doremus Investment Management Purchases 11,401 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hanson & Doremus Investment Management raised its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 9.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,963 shares of the financial services provider's stock after purchasing an additional 11,401 shares during the quarter. Charles Schwab accounts for about 1.6% of Hanson & Doremus Investment Management's investment portfolio, making the stock its 13th biggest holding. Hanson & Doremus Investment Management's holdings in Charles Schwab were worth $10,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after purchasing an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after acquiring an additional 760,043 shares during the period. Fisher Asset Management LLC grew its stake in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the period. Norges Bank bought a new stake in shares of Charles Schwab in the fourth quarter worth approximately $1,289,544,000. Finally, Northern Trust Corp grew its stake in shares of Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock worth $1,164,911,000 after acquiring an additional 1,864,286 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,608 shares of company stock worth $8,392,040 over the last quarter. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Friday, April 25th. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Finally, UBS Group raised their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and an average target price of $89.25.

Charles Schwab Price Performance

NYSE SCHW opened at $87.26 on Monday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.85. The stock has a market cap of $158.55 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 0.99 and a beta of 0.94. The company's 50 day moving average is $83.30 and its two-hundred day moving average is $79.84. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the business posted $0.74 earnings per share. As a group, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is currently 32.73%.

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.

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