NewEdge Advisors LLC Has $12.20 Million Stock Position in The Charles Schwab Corporation $SCHW

NewEdge Advisors LLC boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 129,834 shares of the financial services provider’s stock after purchasing an additional 6,455 shares during the quarter. NewEdge Advisors LLC’s holdings in Charles Schwab were worth $12,202,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC boosted its stake in Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 123 shares in the last quarter. Scarborough Advisors LLC bought a new stake in Charles Schwab in the first quarter valued at $29,000. Optima Capital LLC bought a new stake in Charles Schwab in the fourth quarter valued at $30,000. McIlrath & Eck LLC raised its holdings in shares of Charles Schwab by 143.2% during the fourth 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 during the period. Finally, Main Street Group LTD acquired a new position in shares of Charles Schwab during the first quarter valued at about $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 32,947 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the completion of the sale, the insider directly owned 57,972 shares of the company’s stock, valued at $6,029,667.72. This trade represents a 36.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab 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 sale, the insider owned 11,738 shares in the company, valued at $1,223,216.98. The trade was a 14.56% decrease in their ownership of the stock. 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 three months, insiders have sold 363,848 shares of company stock worth $37,874,706. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SCHW. Raymond James Financial restated an “outperform” rating and issued a $145.00 target price on shares of Charles Schwab in a research note on Wednesday, July 22nd. TD Cowen upped 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. Piper Sandler set a $118.00 price target on Charles Schwab in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Finally, UBS Group set a $135.00 price objective on Charles Schwab in a report on Monday, August 3rd. Two equities research 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 given a Sell rating to the company. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Stock Down 0.1%

SCHW opened at $107.55 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 debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The company’s 50-day moving average is $97.28 and its 200 day moving average is $95.66. The firm has a market capitalization of $187.04 billion, a P/E ratio of 19.55, a PEG ratio of 0.82 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 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 for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Research analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

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.