Blue Whale Capital LLP acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 342,398 shares of the financial services provider’s stock, valued at approximately $31,593,000. Charles Schwab comprises about 1.0% of Blue Whale Capital LLP’s investment portfolio, making the stock its 22nd largest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Charles Schwab by 1.0% during the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after buying an additional 691,671 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Charles Schwab by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Charles Schwab by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock valued at $3,015,720,000 after acquiring an additional 78,020 shares in the last quarter. Primecap Management Co. CA grew its position in Charles Schwab by 9.7% during the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after acquiring an additional 2,066,884 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Charles Schwab by 0.8% during the 4th quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock worth $2,179,888,000 after acquiring an additional 171,926 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. Barclays boosted their price target on Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Morgan Stanley upped their price objective on Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. BMO Capital Markets lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a report on Monday, July 20th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $145.00 price objective on shares of Charles Schwab in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $121.17.
Charles Schwab Stock Up 0.1%
Shares of NYSE:SCHW opened at $112.36 on Monday. The firm has a market cap of $194.31 billion, a P/E ratio of 20.43, a P/E/G ratio of 0.84 and a beta of 0.76. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a 12-month low of $83.96 and a 12-month high of $112.40. The business has a fifty day simple moving average of $101.59 and a 200 day simple moving average of $96.09.
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business earned $1.14 EPS. 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 6.46 earnings per share for the current year.
Charles Schwab Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s payout ratio is currently 23.27%.
Insider Buying and Selling
In other Charles Schwab news, insider Nigel J. Murtagh sold 32,947 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the completion of the transaction, the insider owned 57,972 shares in the company, valued at approximately $6,029,667.72. This trade represents a 36.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Howard sold 28,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 10,470 shares in the company, valued at $1,099,454.70. This trade represents a 72.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 398,984 shares of company stock valued at $41,699,569 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.
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.
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