The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 22.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,243 shares of the financial services provider’s stock after acquiring an additional 6,446 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Charles Schwab were worth $2,759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in Charles Schwab in the 1st quarter worth about $25,000. WFA Asset Management Corp bought a new position in Charles Schwab in the 1st quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab in the 4th quarter worth about $38,000. Atala Financial Inc bought a new position in Charles Schwab in the 4th quarter worth about $41,000. Finally, Investors Research Corp grew its position in Charles Schwab by 75.2% in the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $87.26 on Friday. The company’s fifty day moving average is $83.30 and its 200-day moving average is $79.87. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.85. The firm has a market cap of $158.55 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Equities analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.24%. Charles Schwab’s payout ratio is presently 32.73%.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.68, for a total transaction of $288,467.20. Following the completion of the sale, the insider now directly owns 39,154 shares of the company’s stock, valued at approximately $3,433,022.72. This trade represents a 7.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,608 shares of company stock worth $8,392,040. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and upped their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. JMP Securities reissued a “market outperform” rating and set a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. Barclays cut their target price on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company reduced their price target on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.