The Charles Schwab Corporation $SCHW Shares Purchased by Red Spruce Capital LLC

Red Spruce Capital LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 29.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,267 shares of the financial services provider’s stock after buying an additional 12,484 shares during the quarter. Charles Schwab comprises 1.8% of Red Spruce Capital LLC’s investment portfolio, making the stock its 15th biggest holding. Red Spruce Capital LLC’s holdings in Charles Schwab were worth $5,099,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings 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 valued at $6,984,231,000 after acquiring an additional 691,671 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 98,242 shares during the period. Franklin Resources Inc. raised its position in Charles Schwab by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock valued at $3,015,720,000 after purchasing an additional 78,020 shares during the last quarter. Primecap Management Co. CA raised its position 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 valued at $2,325,512,000 after purchasing an additional 2,066,884 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Charles Schwab by 0.8% during 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 purchasing an additional 171,926 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.3%

Shares of NYSE:SCHW opened at $107.65 on Friday. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $109.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $96.88 and its 200-day simple moving average is $95.57. The company has a market cap of $187.22 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 0.82 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities research analysts predict that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s dividend payout ratio is 23.27%.

Insiders Place Their Bets

In related news, insider Dennis Howard sold 28,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $105.01, for a total value of $2,940,280.00. Following the sale, the insider directly owned 10,470 shares in the company, valued at $1,099,454.70. The trade was a 72.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total value of $208,420.00. Following the transaction, the insider directly owned 11,738 shares in the company, valued at $1,223,216.98. This represents a 14.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 363,848 shares of company stock worth $37,874,706. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent research reports. UBS Group set a $135.00 price objective on shares of Charles Schwab in a research note on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Piper Sandler set a $118.00 price objective on Charles Schwab in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price 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.