Kelly Lawrence W & Associates Inc. CA Invests $1.36 Million in The Charles Schwab Corporation $SCHW

Key Points

• Kelly Lawrence W & Associates acquired 14,767 Charles Schwab shares worth approximately $1.36 million, while institutional investors collectively own 84.38% of the company.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $121.17; recent targets range as high as $136.
• Charles Schwab reported quarterly EPS of $1.62 and revenue of $7.07 billion, exceeding estimates and representing 20.9% year-over-year revenue growth. The company also announced a $0.32 quarterly dividend.

Kelly Lawrence W & Associates Inc. CA acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,767 shares of the financial services provider's stock, valued at approximately $1,363,000.

A number of other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Sivia Capital Partners LLC increased its position in Charles Schwab by 21.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider's stock valued at $415,000 after buying an additional 809 shares in the last quarter. United Bank increased its position in Charles Schwab by 7.1% in the 2nd quarter. United Bank now owns 16,053 shares of the financial services provider's stock valued at $1,465,000 after buying an additional 1,070 shares in the last quarter. Nebula Research & Development LLC acquired a new position in Charles Schwab during the 2nd quarter worth approximately $552,000. Finally, Main Street Financial Solutions LLC raised its stake in Charles Schwab by 4.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider's stock worth $623,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Activity

In related news, insider Dennis Howard sold 28,000 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the transaction, the insider directly owned 10,470 shares of the company's stock, valued at $1,099,454.70. This trade represents a 72.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nigel J. Murtagh sold 32,947 shares of the business's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the transaction, the insider owned 57,972 shares in the company, valued at approximately $6,029,667.72. This trade represents a 36.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 398,984 shares of company stock worth $41,699,569. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen raised their price objective on Charles Schwab from $108.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Citigroup reaffirmed a "market outperform" rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. UBS Group set a $135.00 target price on Charles Schwab in a report on Monday, August 3rd. Wolfe Research reissued an "outperform" rating and issued a $127.00 price target on shares of Charles Schwab in a research report on Tuesday, July 21st. Finally, Morgan Stanley boosted their price target on shares of Charles Schwab from $133.00 to $136.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $113.63 on Tuesday. The company has a market cap of $196.51 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 0.84 and a beta of 0.76. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The business has a 50 day moving average price of $102.05 and a 200-day moving average price of $96.16. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The company had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.90 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Charles Schwab's quarterly revenue was up 20.9% on a year-over-year basis. Equities analysts anticipate that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is 23.27%.

Charles Schwab Company Profile

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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