The Charles Schwab Corporation $SCHW Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,542 shares of the financial services provider’s stock after selling 1,819 shares during the quarter. Charles Schwab makes up about 1.8% of Ironwood Investment Counsel LLC’s investment portfolio, making the stock its 9th biggest position. Ironwood Investment Counsel LLC’s holdings in Charles Schwab were worth $12,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Princeton Global Asset Management LLC purchased a new position in Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $32,000. Hoese & Co LLP lifted its holdings in shares of Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. BMO Capital Markets initiated coverage on Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price on the stock. Finally, Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Price Performance

Charles Schwab stock opened at $96.05 on Wednesday. The firm has a fifty day moving average of $94.02 and a 200-day moving average of $92.19. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $174.35 billion, a P/E ratio of 22.49, a PEG ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is currently owned by corporate insiders.

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.