Silicon Valley Capital Partners Boosts Position in The Charles Schwab Corporation $SCHW

Silicon Valley Capital Partners boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 24.6% in the second quarter, HoldingsChannel.com reports. The firm owned 156,949 shares of the financial services provider’s stock after buying an additional 30,981 shares during the quarter. Charles Schwab comprises about 1.3% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 23rd largest holding. Silicon Valley Capital Partners’ holdings in Charles Schwab were worth $14,482,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Charles Schwab by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Charles Schwab during the fourth quarter worth about $35,233,000. Norges Bank acquired a new stake in shares of Charles Schwab during the fourth quarter worth about $1,994,189,000. Seaview Investment Managers LLC purchased a new stake in shares of Charles Schwab in the 4th quarter valued at about $8,027,000. Finally, Legal & General Group Plc lifted its holdings in shares of Charles Schwab by 6.5% in the 4th quarter. Legal & General Group Plc now owns 9,570,836 shares of the financial services provider’s stock valued at $956,222,000 after purchasing an additional 586,558 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $1.58 during midday trading on Monday, reaching $106.83. 5,443,782 shares of the company were exchanged, compared to its average volume of 10,193,813. The stock has a market cap of $184.75 billion, a P/E ratio of 19.42, a PEG ratio of 0.92 and a beta of 0.76. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $114.53. The stock has a fifty day simple moving average of $106.96 and a 200 day simple moving average of $97.66. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the business earned $1.14 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. On average, research analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the transaction, the insider directly owned 10,738 shares of the company’s stock, valued at approximately $1,195,461.54. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paula A. Sneed sold 5,263 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $107.15, for a total transaction of $563,930.45. Following the transaction, the director owned 91,711 shares of the company’s stock, valued at approximately $9,826,833.65. The trade was a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 649,582 shares of company stock valued at $69,948,015. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on SCHW shares. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Morgan Stanley boosted their price objective on Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Raymond James Financial reissued an “outperform” rating and issued a $145.00 price objective on shares of Charles Schwab in a report on Wednesday, July 22nd. Barclays raised their target price on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Argus lifted their target price on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.17.

Charles Schwab Company Profile

The Charles Schwab Corporation is a financial services company that provides investment, wealth management and banking services to individual investors, financial professionals, employers and institutions. Its offerings include brokerage accounts, retirement accounts, investment advisory services, mutual funds, exchange-traded funds, stocks, bonds and other securities.

Through Charles Schwab Bank and related platforms, the company also provides deposit accounts, lending and cash-management services.