Okabena Investment Services Inc. Invests $1.11 Million in The Charles Schwab Corporation $SCHW

Okabena Investment Services Inc. bought a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, Holdings Channel reports. The institutional investor bought 12,214 shares of the financial services provider’s stock, valued at approximately $1,114,000.

A number of other large investors have also bought and sold shares of SCHW. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the second quarter valued at about $25,000. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Charles Schwab in the 2nd quarter valued at about $32,000. Hoese & Co LLP boosted its holdings in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Finally, Evelyn Partners Asset Management Ltd bought a new position in Charles Schwab in the second quarter worth approximately $33,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 1.2%

SCHW stock opened at $92.94 on Monday. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The stock has a market cap of $165.14 billion, a P/E ratio of 21.76, a P/E/G ratio of 0.85 and a beta of 1.02. The stock’s fifty day simple moving average is $93.79 and its two-hundred day simple moving average is $93.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Analysts expect 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 was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,482 shares of company stock valued at $905,295 in the last ninety days. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Barclays raised their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One research 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 given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Company 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.