Birchbrook Inc. Sells 165 Shares of The Charles Schwab Corporation $SCHW

Birchbrook Inc. decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,266 shares of the financial services provider’s stock after selling 165 shares during the quarter. Birchbrook Inc.’s holdings in Charles Schwab were worth $177,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SCHW. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after buying an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Charles Schwab by 595.7% in the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after purchasing an additional 13,262,309 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 229.3% in the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Charles Schwab in the first quarter valued at approximately $440,699,000. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the completion of the sale, the insider owned 37,983 shares in the company, valued at approximately $3,615,981.60. This represents a 7.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 298,214 shares of company stock worth $29,022,580. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 1.8%

Charles Schwab stock opened at $93.90 on Friday. The business has a fifty day moving average of $95.36 and a two-hundred day moving average of $86.66. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $170.45 billion, a P/E ratio of 25.24, a P/E/G ratio of 0.91 and a beta of 0.96. The Charles Schwab Corporation has a twelve month low of $61.16 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. Charles Schwab’s revenue was up 24.8% on a year-over-year basis. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SCHW. TD Securities boosted their price target on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Bank of America boosted their price target on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a report on Monday, July 21st. Piper Sandler boosted their price target on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.60.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.