The Charles Schwab Corporation (NYSE:SCHW) Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,243 shares of the financial services provider's stock after purchasing an additional 6,446 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Charles Schwab were worth $2,759,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 8,614 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $80.00, for a total transaction of $689,120.00. Following the completion of the sale, the insider now directly owns 49,204 shares of the company's stock, valued at $3,936,320. This trade represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,608 shares of company stock valued at $8,392,040. Insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SCHW shares. Truist Financial boosted their price objective on Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. Barclays dropped 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 report on Monday, April 7th. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Friday, April 25th. Finally, TD Securities increased their target price on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.40.

Charles Schwab Stock Performance

NYSE:SCHW traded down $0.02 during mid-day trading on Tuesday, reaching $88.95. 7,077,391 shares of the stock were exchanged, compared to its average volume of 9,428,323. The stock has a market capitalization of $161.61 billion, a P/E ratio of 26.95, a P/E/G ratio of 0.95 and a beta of 0.94. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $89.85. The company has a 50 day simple moving average of $83.96 and a 200-day simple moving average of $79.94. 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 announced its 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 for 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 period last year, the firm posted $0.74 earnings per share. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.21%. The ex-dividend date 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.