The Charles Schwab Corporation $SCHW Shares Purchased by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners increased its Charles Schwab stake by 206.5% in the first quarter, ending with 41,428 shares valued at about $3.89 million.
• Insider selling was notable last quarter, with company insiders selling 59,700 shares worth about $5.89 million, including sales by executive Paul V. Woolway and director Frank C. Herringer.
• Charles Schwab reported better-than-expected quarterly results, posting EPS of $1.43 on revenue of $6.48 billion, while analysts currently rate the stock a Moderate Buy with a consensus price target of $116.

Elevation Point Wealth Partners LLC boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 206.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,428 shares of the financial services provider's stock after acquiring an additional 27,911 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Charles Schwab were worth $3,893,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Charles Schwab by 1.0% during the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider's stock worth $6,984,231,000 after acquiring an additional 691,671 shares in the last quarter. Geode Capital Management LLC increased its stake in Charles Schwab by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider's stock valued at $3,747,646,000 after purchasing an additional 98,242 shares in the last quarter. Franklin Resources Inc. raised its holdings in Charles Schwab by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider's stock worth $3,015,720,000 after purchasing an additional 78,020 shares during the last quarter. Primecap Management Co. CA raised its holdings in Charles Schwab by 9.7% during the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider's stock worth $2,325,512,000 after purchasing an additional 2,066,884 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Charles Schwab by 0.8% during the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider's stock worth $2,179,888,000 after purchasing an additional 171,926 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Activity

In related news, insider Paul V. Woolway sold 7,941 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $100.00, for a total value of $794,100.00. Following the completion of the transaction, the insider directly owned 29,866 shares in the company, valued at approximately $2,986,600. This represents a 21.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the transaction, the director owned 177,508 shares in the company, valued at $16,082,224.80. This trade represents a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,700 shares of company stock valued at $5,889,131 over the last quarter. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SCHW shares. Argus set a $108.00 target price on Charles Schwab in a report on Monday, April 20th. Piper Sandler boosted their price objective on shares of Charles Schwab from $103.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, May 15th. Weiss Ratings reissued a "buy (b-)" rating on shares of Charles Schwab in a research note on Thursday, June 18th. Keefe, Bruyette & Woods assumed coverage on shares of Charles Schwab in a report on Wednesday, April 8th. They set an "outperform" rating and a $110.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $128.00 to $131.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $116.00.

Charles Schwab Stock Performance

NYSE:SCHW opened at $96.81 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $168.37 billion, a PE ratio of 19.21, a P/E/G ratio of 0.89 and a beta of 0.77. The firm has a 50 day simple moving average of $90.46 and a 200-day simple moving average of $95.17. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.04. The firm had revenue of $6.48 billion for the quarter, compared to analyst estimates of $6.39 billion. Charles Schwab had a net margin of 37.99% and a return on equity of 23.05%. Charles Schwab's revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. On average, equities analysts expect that The Charles Schwab Corporation will post 6.14 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, May 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. Charles Schwab's dividend payout ratio (DPR) is 25.40%.

About Charles Schwab

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.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.