Grassi Investment Management Has $10.68 Million Position in The Charles Schwab Corporation $SCHW

Grassi Investment Management lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,018 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Grassi Investment Management’s holdings in Charles Schwab were worth $10,677,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SCHW. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the 1st quarter worth $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab during the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management boosted its position in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Up 1.5%

NYSE SCHW opened at $94.13 on Friday. The business’s fifty day moving average is $95.37 and its 200 day moving average is $88.57. The Charles Schwab Corporation has a twelve month low of $64.07 and a twelve month high of $99.59. The company has a market cap of $170.87 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab declared that its board has approved a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SCHW shares. Piper Sandler increased their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Bank of America raised their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Truist Financial set a $112.00 price objective on Charles Schwab in a research note on Thursday. Seventeen research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock valued at $26,232,077 in the last quarter. Insiders own 6.30% of the company’s stock.

About Charles Schwab

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.