Walter Bettinger Sells 74,388 Shares of Charles Schwab (NYSE:SCHW) Stock

Key Points

• Charles Schwab Chairman Walter Bettinger sold 74,388 shares for approximately $8.25 million, reducing his holdings by 10.86% to 610,360 shares.
• Charles Schwab reported strong quarterly results, with EPS of $1.62 exceeding estimates and revenue rising 20.9% year over year to $7.07 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $121.17, while institutional investors own 84.38% of the company.

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) Chairman Walter Bettinger sold 74,388 shares of the firm's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $110.91, for a total value of $8,250,373.08. Following the completion of the transaction, the chairman owned 610,360 shares of the company's stock, valued at approximately $67,695,027.60. This represents a 10.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Charles Schwab Price Performance

Shares of NYSE SCHW traded down $0.20 on Monday, hitting $109.96. The company's stock had a trading volume of 6,160,409 shares, compared to its average volume of 7,480,484. The stock has a 50 day moving average of $103.78 and a 200-day moving average of $96.39. The company has a market capitalization of $190.16 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The Charles Schwab Corporation has a 12-month low of $83.96 and a 12-month high of $114.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.90 billion. During the same quarter last year, the business posted $1.14 EPS. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, research analysts predict that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is 23.27%.

Hedge Funds Weigh In On Charles Schwab

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays increased their price target on Charles Schwab from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. UBS Group set a $135.00 target price on Charles Schwab in a research report on Monday, August 3rd. Wolfe Research reissued an "outperform" rating and issued a $127.00 price target on shares of Charles Schwab in a research note on Tuesday, July 21st. TD Cowen lifted their price target on Charles Schwab from $108.00 to $109.00 and gave the company a "buy" rating in a report on Friday, May 15th. Finally, Morgan Stanley increased their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

Charles Schwab Company Profile

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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