10,900 Shares in The Charles Schwab Corporation $SCHW Purchased by Stone Summit Wealth LLC

Stone Summit Wealth LLC purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,900 shares of the financial services provider’s stock, valued at approximately $1,041,000.

Several other institutional investors have also recently made changes to their positions in the stock. LS Investment Advisors LLC grew its position in shares of Charles Schwab by 4.6% in the third quarter. LS Investment Advisors LLC now owns 47,878 shares of the financial services provider’s stock valued at $4,571,000 after purchasing an additional 2,091 shares in the last quarter. City Holding Co. boosted its stake in Charles Schwab by 4.9% in the 3rd quarter. City Holding Co. now owns 19,990 shares of the financial services provider’s stock worth $1,908,000 after purchasing an additional 932 shares during the period. Investment Research & Advisory Group Inc. grew its holdings in Charles Schwab by 0.9% during the 3rd quarter. Investment Research & Advisory Group Inc. now owns 66,686 shares of the financial services provider’s stock valued at $6,367,000 after buying an additional 608 shares in the last quarter. Earned Wealth Advisors LLC bought a new stake in shares of Charles Schwab during the third quarter valued at about $322,000. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Charles Schwab by 4.7% in the third quarter. Asset Management One Co. Ltd. now owns 763,861 shares of the financial services provider’s stock worth $72,926,000 after buying an additional 34,371 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total value of $204,020.00. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at $1,216,265.23. This represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Cowen restated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. UBS Group initiated coverage on Charles Schwab in a research report on Thursday, December 11th. They issued a “buy” rating and a $119.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.84.

Charles Schwab Stock Performance

NYSE SCHW opened at $101.57 on Monday. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $102.28. The company has a fifty day moving average of $95.56 and a 200-day moving average of $94.69. The company has a market capitalization of $180.48 billion, a P/E ratio of 23.79, a P/E/G ratio of 0.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

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.