Charles Schwab (NYSE:SCHW) Chairman Walter Bettinger Sells 74,388 Shares

The Charles Schwab Corporation (NYSE:SCHW) Chairman Walter Bettinger sold 74,388 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $110.91, for a total transaction of $8,250,373.08. Following the transaction, the chairman directly owned 610,360 shares of the company’s stock, valued at $67,695,027.60. The trade was a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $109.96 on Tuesday. The firm has a market cap of $190.16 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The firm’s 50-day simple moving average is $103.78 and its 200-day simple moving average is $96.39. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. As a group, research analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 23.27%.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently bought and sold shares of the business. Souders Financial Advisors raised its holdings in shares of Charles Schwab by 2.3% in the fourth quarter. Souders Financial Advisors now owns 4,341 shares of the financial services provider’s stock valued at $434,000 after buying an additional 98 shares during the last quarter. Essex Financial Services Inc. grew its holdings in Charles Schwab by 0.8% during the 4th quarter. Essex Financial Services Inc. now owns 12,833 shares of the financial services provider’s stock worth $1,282,000 after acquiring an additional 105 shares during the last quarter. Sheets Smith Wealth Management increased its position in Charles Schwab by 0.7% in the 1st quarter. Sheets Smith Wealth Management now owns 14,521 shares of the financial services provider’s stock valued at $1,365,000 after acquiring an additional 108 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV increased its position in Charles Schwab by 4.5% in the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,536 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 110 shares in the last quarter. Finally, Peoples Bank KS raised its stake in shares of Charles Schwab by 2.7% in the second quarter. Peoples Bank KS now owns 4,331 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SCHW shares. Wolfe Research reaffirmed an “outperform” rating and issued a $127.00 price target on shares of Charles Schwab in a research note on Tuesday, July 21st. Raymond James Financial reissued an “outperform” rating and set a $145.00 price objective on shares of Charles Schwab in a report on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Piper Sandler set a $118.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Finally, Compass Point started coverage on shares of Charles Schwab in a research report on Monday, August 3rd. They set a “buy” rating and a $135.00 target price for the company. Two research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.17.

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.