The Charles Schwab Corporation (NYSE:SCHW) Position Decreased by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 39.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,000 shares of the financial services provider's stock after selling 5,900 shares during the period. Hennessy Advisors Inc.'s holdings in Charles Schwab were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. raised its position in shares of 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 worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 last quarter. Fisher Asset Management LLC raised its holdings 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 last quarter. Norges Bank purchased a new stake in shares of Charles Schwab in the fourth quarter valued at $1,289,544,000. Finally, Northern Trust Corp boosted its stake in shares of Charles Schwab by 13.4% during the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after acquiring an additional 1,864,286 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 1.1%

NYSE SCHW traded up $0.94 during mid-day trading on Thursday, reaching $89.90. 8,081,605 shares of the company's stock traded hands, compared to its average volume of 9,437,175. The company has a fifty day simple moving average of $84.24 and a 200-day simple moving average of $80.01. The Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $90.19. The company has a market cap of $163.35 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 0.95 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly 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 during 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 earned $0.74 earnings per share. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on SCHW shares. Morgan Stanley upped 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. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Piper Sandler boosted their price target on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Finally, Barclays decreased their price objective on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus target price of $89.40.

Insider Buying and Selling

In other news, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the transaction, the director now directly owns 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their ownership of the stock. 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. 6.30% of the stock is owned by company insiders.

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.