Sequoia Financial Advisors LLC Buys 6,364 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Sequoia Financial Advisors LLC increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 328,160 shares of the financial services provider's stock after buying an additional 6,364 shares during the period. Sequoia Financial Advisors LLC's holdings in Charles Schwab were worth $25,688,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SCHW. Norges Bank acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC lifted its position in shares of Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC lifted its position in shares of Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after purchasing an additional 3,974,940 shares during the period. Marshall Wace LLP lifted its position in shares of Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after purchasing an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA lifted its position in shares of Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after purchasing an additional 3,216,000 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the sale, the insider now directly owns 45,824 shares of the company's stock, valued at $3,548,152.32. This represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were 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. In the last ninety days, insiders have sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on SCHW. Piper Sandler lifted their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. JPMorgan Chase & Co. lifted 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. Morgan Stanley lifted 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. Finally, JMP Securities reiterated a "market outperform" rating and issued a $94.00 price objective on shares of Charles Schwab in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and an average price target of $89.40.

Charles Schwab Stock Up 0.6%

Shares of NYSE SCHW traded up $0.58 during trading on Friday, hitting $90.02. The stock had a trading volume of 9,335,355 shares, compared to its average volume of 9,509,581. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $90.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $163.56 billion, a PE ratio of 27.28, a PEG ratio of 0.96 and a beta of 0.94. The firm has a fifty day moving average of $85.83 and a two-hundred day moving average of $80.34.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the business posted $0.74 EPS. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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