Prosperity Wealth Management Inc. Takes Position in The Charles Schwab Corporation (NYSE:SCHW)

Prosperity Wealth Management Inc. purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,215 shares of the financial services provider's stock, valued at approximately $643,000.

Other hedge funds also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab during the first quarter valued at approximately $25,000. WFA Asset Management Corp bought a new stake in shares of Charles Schwab during the first quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $38,000. Atala Financial Inc bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $41,000. Finally, Investors Research Corp raised its holdings in shares of Charles Schwab by 75.2% during the first quarter. Investors Research Corp now owns 559 shares of the financial services provider's stock valued at $44,000 after buying an additional 240 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Friday, April 25th. Morgan Stanley raised their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Barclays lowered their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, Truist Financial raised their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now owns 172,162 shares in the company, valued at $12,784,750.12. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,608 shares of company stock valued at $8,392,040. Insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 0.0%

Shares of NYSE:SCHW opened at $88.95 on Wednesday. The firm has a fifty day moving average of $83.96 and a two-hundred day moving average of $79.94. The firm has a market capitalization of $161.61 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $89.85. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The company 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 last year, the business posted $0.74 EPS. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is presently 32.73%.

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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