IBM Retirement Fund raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 123.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,000 shares of the financial services provider’s stock after buying an additional 15,999 shares during the period. IBM Retirement Fund’s holdings in The Charles Schwab Corporation were worth $1,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WealthTrust Arizona LLC increased its position in shares of The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares during the last quarter. Pinnacle Bank purchased a new position in shares of The Charles Schwab Corporation during the first quarter worth about $119,000. First Bank & Trust increased its position in shares of The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares during the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after buying an additional 287 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock worth $133,000 after buying an additional 207 shares during the last quarter. 79.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Charles Schwab Corporation (SCHW) opened at 42.02 on Thursday. The firm’s 50-day moving average is $42.76 and its 200 day moving average is $41.04. The firm has a market capitalization of $56.22 billion, a PE ratio of 28.20 and a beta of 1.63. The Charles Schwab Corporation has a 52 week low of $29.23 and a 52 week high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.69%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the firm posted $0.30 EPS. The Charles Schwab Corporation’s quarterly revenue was up 16.5% on a year-over-year basis. On average, equities analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is 21.48%.

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A number of research analysts have recently issued reports on SCHW shares. William Blair reaffirmed an “outperform” rating on shares of The Charles Schwab Corporation in a research report on Friday, June 16th. Deutsche Bank AG cut their price objective on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. BidaskClub downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Citigroup Inc. started coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective on the stock. Finally, Rosenblatt Securities started coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $44.00.

In related news, insider Marie A. Chandoha sold 7,002 shares of The Charles Schwab Corporation stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $41.96, for a total value of $293,803.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marie A. Chandoha sold 9,705 shares of The Charles Schwab Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $43.17, for a total transaction of $418,964.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 924,122 shares of company stock worth $39,694,987. 12.00% of the stock is currently owned by insiders.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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