The Charles Schwab Corporation $SCHW Shares Acquired by Davidson Investment Advisors

Key Points

• Davidson Investment Advisors increased its holdings in The Charles Schwab Corporation by 1.2%, owning 247,078 shares worth approximately $22.54 million as of the latest SEC filing.
• Charles Schwab's Chairman, Walter W. Bettinger, sold 173,876 shares in July, reducing his position by 22.74%, while corporate insiders own 6.30% of the stock.
• Analysts have recently raised price targets for Charles Schwab, with Citigroup increasing its target from $105 to $110, reflecting a consensus rating of "Moderate Buy."

Davidson Investment Advisors lifted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 247,078 shares of the financial services provider's stock after buying an additional 2,870 shares during the period. Davidson Investment Advisors' holdings in Charles Schwab were worth $22,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Rosenberg Matthew Hamilton lifted its stake in shares of Charles Schwab by 4.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 5,618 shares of the financial services provider's stock worth $513,000 after purchasing an additional 215 shares during the period. Generali Asset Management SPA SGR increased its stake in Charles Schwab by 0.8% in the second quarter. Generali Asset Management SPA SGR now owns 124,726 shares of the financial services provider's stock valued at $11,380,000 after purchasing an additional 971 shares during the last quarter. Ritholtz Wealth Management lifted its position in Charles Schwab by 16.5% during the second quarter. Ritholtz Wealth Management now owns 24,071 shares of the financial services provider's stock worth $2,196,000 after buying an additional 3,409 shares during the period. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Charles Schwab in the 2nd quarter worth about $247,000. Finally, Cypress Wealth Services LLC grew its holdings in Charles Schwab by 3.5% in the 2nd quarter. Cypress Wealth Services LLC now owns 8,602 shares of the financial services provider's stock valued at $785,000 after buying an additional 289 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman owned 590,734 shares of the company's stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SCHW shares. Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Barclays reaffirmed an "overweight" rating and set a $114.00 price target on shares of Charles Schwab in a research note on Wednesday, October 8th. JMP Securities lifted their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. Truist Financial set a $112.00 price objective on Charles Schwab in a report on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.85.

Charles Schwab Stock Down 0.1%

Shares of NYSE SCHW opened at $93.39 on Wednesday. The stock has a fifty day moving average price of $94.83 and a 200 day moving average price of $89.33. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a market cap of $169.53 billion, a P/E ratio of 25.11, a P/E/G ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company's revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has initiated a stock repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

About Charles Schwab

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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