NewEdge Advisors LLC Purchases 6,455 Shares of The Charles Schwab Corporation $SCHW

NewEdge Advisors LLC grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,834 shares of the financial services provider’s stock after buying an additional 6,455 shares during the period. NewEdge Advisors LLC’s holdings in Charles Schwab were worth $12,202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dogwood Wealth Management LLC raised its stake in Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 123 shares during the period. Scarborough Advisors LLC purchased a new stake in Charles Schwab during the first quarter valued at about $29,000. Optima Capital LLC bought a new position in Charles Schwab during the fourth quarter worth about $30,000. McIlrath & Eck LLC boosted its position in Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, Main Street Group LTD purchased a new position in shares of Charles Schwab in the first quarter worth about $33,000. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SCHW. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Argus lifted their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. UBS Group set a $135.00 target price on Charles Schwab in a research report on Monday, August 3rd. Barclays lifted their price target on Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Wolfe Research reiterated an “outperform” rating and set a $127.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Insider Buying and Selling

In other news, insider Dennis Howard sold 28,000 shares of Charles Schwab stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the completion of the sale, the insider owned 10,470 shares in the company, valued at approximately $1,099,454.70. This trade represents a 72.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total value of $709,312.56. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 363,848 shares of company stock valued at $37,874,706 in the last ninety days. 6.30% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $107.55 on Friday. The company has a 50 day moving average of $97.28 and a 200 day moving average of $95.66. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The stock has a market cap of $187.04 billion, a P/E ratio of 19.55, a P/E/G ratio of 0.82 and a beta of 0.76. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $109.05.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.

Charles Schwab 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.