NewEdge Wealth LLC Sells 22,039 Shares of The Charles Schwab Corporation $SCHW

NewEdge Wealth LLC decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 21.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 81,450 shares of the financial services provider’s stock after selling 22,039 shares during the period. NewEdge Wealth LLC’s holdings in Charles Schwab were worth $7,655,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 19,195 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Charles Schwab by 21.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 809 shares in the last quarter. United Bank boosted its position in shares of Charles Schwab by 7.1% during the 2nd quarter. United Bank now owns 16,053 shares of the financial services provider’s stock valued at $1,465,000 after purchasing an additional 1,070 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Charles Schwab during the second quarter worth approximately $552,000. Finally, Main Street Financial Solutions LLC grew its stake in Charles Schwab by 4.7% during the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock worth $623,000 after purchasing an additional 305 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday. Jefferies Financial Group lowered their price objective on shares of Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley increased their target price on shares of Charles Schwab from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.

Charles Schwab Stock Up 0.8%

SCHW stock opened at $101.62 on Friday. The stock’s 50 day simple moving average is $93.71 and its 200 day simple moving average is $95.35. The company has a market cap of $176.73 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $107.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating 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 return on equity of 24.73% and a net margin of 38.79%.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 firm posted $1.14 earnings per share. On average, research analysts expect that The Charles Schwab Corporation will post 6.34 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the sale, the insider owned 13,738 shares of the company’s stock, valued at approximately $1,373,937.38. This trade represents a 12.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the transaction, the director owned 177,508 shares in the company, valued at approximately $16,082,224.80. The trade was a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is currently owned by insiders.

Charles Schwab News Summary

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

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.