HBK Sorce Advisory LLC Grows Stake in The Charles Schwab Corporation $SCHW

HBK Sorce Advisory LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 21.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,438 shares of the financial services provider’s stock after acquiring an additional 5,803 shares during the period. HBK Sorce Advisory LLC’s holdings in Charles Schwab were worth $3,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab during the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its position in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. Activest Wealth Management boosted its stake in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. Finally, Hoese & Co LLP boosted its stake in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Charles Schwab stock opened at $101.20 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50 day simple moving average of $94.49 and a 200-day simple moving average of $93.98. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $102.05. The stock has a market capitalization of $179.82 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 0.82 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current 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 given a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SCHW. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Morgan Stanley boosted their price objective on Charles Schwab from $139.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial raised their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.84.

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.