State of Alaska Department of Revenue Has $17.51 Million Position in The Charles Schwab Corporation $SCHW

State of Alaska Department of Revenue lessened its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,358 shares of the financial services provider’s stock after selling 8,459 shares during the quarter. State of Alaska Department of Revenue’s holdings in Charles Schwab were worth $17,505,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new position in Charles Schwab during the second quarter worth approximately $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab during the second quarter worth about $27,000. West Branch Capital LLC bought a new stake in Charles Schwab during the third quarter worth $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Charles Schwab in the second quarter valued at about $32,000. Finally, Hoese & Co LLP lifted its stake in Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SCHW shares. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Barclays increased their target price on shares of Charles Schwab from $111.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday. Wolfe Research reaffirmed an “outperform” rating and issued a $122.00 price objective on shares of Charles Schwab in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price objective 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, Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.25.

Charles Schwab Stock Performance

SCHW opened at $101.35 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $96.22 and its two-hundred day moving average price is $94.98. The company has a market cap of $180.10 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 0.71 and a beta of 0.94. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $104.76.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating 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 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 company posted $0.71 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a dividend of $0.27 per share. 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 (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.