Oak Associates Ltd. OH Reduces Stock Holdings in The Charles Schwab Corporation $SCHW

Oak Associates Ltd. OH reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 427,975 shares of the financial services provider’s stock after selling 19,950 shares during the period. Charles Schwab accounts for about 2.7% of Oak Associates Ltd. OH’s holdings, making the stock its 11th biggest holding. Oak Associates Ltd. OH’s holdings in Charles Schwab were worth $40,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Charles Schwab by 1.0% in the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock valued at $6,984,231,000 after acquiring an additional 691,671 shares during the last quarter. Geode Capital Management LLC increased its stake in Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock worth $3,747,646,000 after acquiring an additional 98,242 shares during the last quarter. Franklin Resources Inc. increased its stake in Charles Schwab by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock worth $3,015,720,000 after acquiring an additional 78,020 shares during the last quarter. Primecap Management Co. CA raised its position in Charles Schwab by 9.7% in the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after purchasing an additional 2,066,884 shares during the period. Finally, Fisher Asset Management LLC raised its position in Charles Schwab by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock valued at $2,179,888,000 after purchasing an additional 171,926 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Trading Up 0.8%

SCHW opened at $101.62 on Friday. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $107.50. The business has a fifty day simple moving average of $93.71 and a 200-day simple moving average of $95.35. The firm has a market cap of $176.73 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.83 and a beta of 0.77. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The company’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities analysts expect that The Charles Schwab Corporation will post 6.34 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s payout ratio is currently 25.40%.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $100.01, for a total transaction of $200,020.00. Following the sale, the insider directly owned 13,738 shares in the company, valued at $1,373,937.38. This represents a 12.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the sale, the director directly owned 177,508 shares in the company, valued at $16,082,224.80. This represents a 1.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on SCHW shares. Truist Financial decreased their price target on Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Argus raised their price objective on Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods began coverage on shares of Charles Schwab in a report on Wednesday, April 8th. They issued an “outperform” rating and a $110.00 price objective on the stock. Morgan Stanley upped their target price on shares of Charles Schwab from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.76.

Trending Headlines about Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab beat Q2 estimates, with record daily average revenue trades, a 20%+ revenue increase, and management raising full-year guidance, signaling strong operating momentum. Schwab Beats 2Q Estimates as Retail Traders Pile Into Market
• Positive Sentiment: Analysts turned more bullish, with Argus lifting its price target to $114 and Barclays raising its target to $125, both with positive ratings. Analyst price target increases
• Positive Sentiment: Schwab was added to Zacks’ Rank #1 “Strong Buy” income stocks list, which can support investor sentiment around the name. Best Income Stocks to Buy for July 23rd
• Neutral Sentiment: Schwab declared its regular quarterly common stock dividend and preferred dividends, reinforcing its shareholder-return profile but not changing the core growth story. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Negative Sentiment: Some coverage noted that SCHW shares fell despite the earnings surge, suggesting traders may be taking profits after the run-up or focusing on valuation near recent highs. Interactive Brokers, Charles Schwab Slide Despite Earnings Surge

Charles Schwab Profile

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.