The Charles Schwab Corporation $SCHW Shares Sold by London Co. of Virginia

Key Points

• London Co. of Virginia cut its Charles Schwab stake by 13.1% in Q1, selling 536,713 shares and leaving it with 3.57 million shares worth about $335.4 million.
• Charles Schwab reported strong quarterly results, with earnings of $1.62 per share and revenue of $7.07 billion, both ahead of estimates. Revenue rose 20.9% year over year.
• The company also declared a quarterly dividend of $0.32 per share, and analysts remain broadly positive, with several firms raising price targets and a consensus “Moderate Buy” rating.

London Co. of Virginia decreased its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,569,280 shares of the financial services provider's stock after selling 536,713 shares during the period. Charles Schwab makes up 2.1% of London Co. of Virginia's portfolio, making the stock its 13th biggest position. London Co. of Virginia owned 0.21% of Charles Schwab worth $335,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Dogwood Wealth Management LLC grew its position in Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 123 shares in the last quarter. Piscataqua Savings Bank acquired a new position in shares of Charles Schwab during the fourth quarter worth $26,000. Optima Capital LLC purchased a new position in shares of Charles Schwab in the fourth quarter valued at $30,000. Scarborough Advisors LLC purchased a new position in shares of Charles Schwab in the first quarter valued at $29,000. Finally, McIlrath & Eck LLC grew its holdings in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 189 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of SCHW stock opened at $101.92 on Friday. The firm has a market cap of $177.25 billion, a P/E ratio of 18.53, a P/E/G ratio of 0.83 and a beta of 0.77. 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 Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50. The firm has a fifty day moving average of $93.93 and a two-hundred day moving average of $95.39.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.06. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The company's revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS. As a group, research analysts anticipate that The Charles Schwab Corporation will post 6.43 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab's payout ratio is currently 23.27%.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider owned 13,738 shares in the company, valued at approximately $1,373,937.38. This trade represents a 12.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 business's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total value of $228,312.00. Following the completion of the sale, the director owned 177,508 shares of the company's stock, 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. Over the last three months, insiders sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is owned by corporate insiders.

Trending Headlines about Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

Wall Street Analyst Weigh In

SCHW has been the topic of several analyst reports. UBS Group lifted their price target on shares of Charles Schwab from $122.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday. Keefe, Bruyette & Woods began coverage on Charles Schwab in a research note on Wednesday, April 8th. They set an "outperform" rating and a $110.00 target price for the company. Jefferies Financial Group dropped their target price on Charles Schwab from $122.00 to $118.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. TD Cowen boosted their price target on Charles Schwab from $108.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Finally, Argus increased their price target on Charles Schwab from $108.00 to $114.00 and gave the company a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.76.

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.

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