Parnassus Investments LLC Has $129.41 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Parnassus Investments LLC lifted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,355,531 shares of the financial services provider’s stock after buying an additional 48,927 shares during the period. Parnassus Investments LLC owned about 0.07% of Charles Schwab worth $129,413,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab during the 2nd quarter worth about $27,000. West Branch Capital LLC acquired a new position in shares of Charles Schwab during the 3rd quarter worth about $27,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Charles Schwab by 97.9% in the 1st 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 in the last quarter. Finally, Hoese & Co LLP increased its position in shares of 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 during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SCHW. Wolfe Research reaffirmed an “outperform” rating and set a $122.00 price target on shares of Charles Schwab in a research report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. TD Cowen upped their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $111.25.

Charles Schwab Stock Down 1.1%

Shares of Charles Schwab stock opened at $100.19 on Friday. The stock has a market capitalization of $178.03 billion, a price-to-earnings ratio of 23.46, 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. The company’s 50 day moving average price is $96.33 and its 200-day moving average price is $95.06. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $104.76.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio 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.