Charles Schwab (NYSE:SCHW) General Counsel Peter Morgan III Sells 6,952 Shares of Stock

The Charles Schwab Corporation (NYSE:SCHW) General Counsel Peter Morgan III sold 6,952 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Charles Schwab Stock Performance

Charles Schwab stock traded up $1.66 during trading hours on Tuesday, reaching $105.84. 2,347,075 shares of the stock were exchanged, compared to its average volume of 10,849,993. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $107.50. The stock has a market cap of $184.08 billion, a P/E ratio of 19.25, a P/E/G ratio of 0.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50 day moving average is $94.17 and its 200 day moving average is $95.34.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating 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 the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts predict that The Charles Schwab Corporation will post 6.43 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. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s payout ratio is currently 23.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SCHW shares. JPMorgan Chase & Co. raised their price target on Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Raymond James Financial restated an “outperform” rating and set a $145.00 target price on shares of Charles Schwab in a research report on Wednesday, July 22nd. Finally, TD Cowen increased their price target on shares of Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.94.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dogwood Wealth Management LLC grew its holdings in Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Piscataqua Savings Bank purchased a new stake in shares of Charles Schwab in the 4th quarter worth about $26,000. Optima Capital LLC acquired a new stake in Charles Schwab in the 4th quarter valued at about $30,000. Scarborough Advisors LLC purchased a new position in Charles Schwab during the 1st quarter valued at about $29,000. Finally, McIlrath & Eck LLC increased its holdings in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

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.