Puzo Michael J Boosts Position in The Charles Schwab Corporation $SCHW

Puzo Michael J grew its stake in The Charles Schwab Corporation (NYSE:SCHW) by 19.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,557 shares of the financial services provider’s stock after buying an additional 8,072 shares during the period. Puzo Michael J’s holdings in Charles Schwab were worth $4,657,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC boosted its holdings in shares of 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 during the period. Piscataqua Savings Bank acquired a new position in shares of Charles Schwab in the 4th quarter valued at $26,000. Beacon Financial Strategies CORP acquired a new position in shares of Charles Schwab in the 4th quarter valued at $29,000. Scarborough Advisors LLC purchased a new stake in Charles Schwab in the 1st quarter valued at $29,000. Finally, Optima Capital LLC purchased a new stake in Charles Schwab in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $102.92 on Tuesday. 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 stock has a fifty day moving average price of $93.07 and a 200 day moving average price of $95.34. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50. The company has a market cap of $178.99 billion, a PE ratio of 20.42, a P/E/G ratio of 0.85 and a beta of 0.77.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.32 per share. The ex-dividend date was Friday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 25.40%.

Analyst Ratings Changes

A number of analysts recently weighed in on SCHW shares. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Truist Financial dropped their price objective on shares of Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Raymond James Financial upped their target price on shares of Charles Schwab from $126.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods assumed coverage on shares of Charles Schwab in a research note on Wednesday, April 8th. They set an “outperform” rating and a $110.00 target price for the company. Finally, Piper Sandler raised their price target on Charles Schwab from $105.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.65.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of Charles Schwab stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the sale, the director directly owned 177,508 shares in the company, valued at approximately $16,082,224.80. The trade was a 1.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,520 shares of company stock valued at $622,392 in the last 90 days. Company insiders own 6.30% of the company’s stock.

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.