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

The Charles Schwab Corporation (NYSE:SCHW) Chairman Walter Bettinger sold 74,388 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $110.91, for a total value of $8,250,373.08. Following the transaction, the chairman directly owned 610,360 shares in the company, valued at approximately $67,695,027.60. This represents a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $108.27 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $187.24 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53. The business has a 50 day simple moving average of $104.09 and a 200-day simple moving average of $96.48.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. The firm had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. As a group, equities research analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SCHW. Wolfe Research reiterated an “outperform” rating and set a $127.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. TD Cowen lifted their target price on Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Raymond James Financial reiterated an “outperform” rating and set a $145.00 price target on shares of Charles Schwab in a research report on Wednesday, July 22nd. Finally, Argus raised their price target on Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.17.

Institutional Trading of Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Souders Financial Advisors boosted its position in shares of Charles Schwab by 2.3% during the fourth quarter. Souders Financial Advisors now owns 4,341 shares of the financial services provider’s stock worth $434,000 after buying an additional 98 shares during the period. Essex Financial Services Inc. raised its stake in Charles Schwab by 0.8% during the 4th quarter. Essex Financial Services Inc. now owns 12,833 shares of the financial services provider’s stock valued at $1,282,000 after acquiring an additional 105 shares in the last quarter. Sheets Smith Wealth Management boosted its position in Charles Schwab by 0.7% during the 1st quarter. Sheets Smith Wealth Management now owns 14,521 shares of the financial services provider’s stock worth $1,365,000 after acquiring an additional 108 shares during the period. Acorn Financial Advisory Services Inc. ADV boosted its position in Charles Schwab by 4.5% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,536 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 110 shares during the period. Finally, Peoples Bank KS grew its stake in shares of Charles Schwab by 2.7% in the second quarter. Peoples Bank KS now owns 4,331 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 113 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.