The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,897 shares of the financial services provider’s stock after acquiring an additional 245 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Charles Schwab were worth $540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in Charles Schwab by 2.2% in the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 183,489 shares of the financial services provider’s stock valued at $14,363,000 after buying an additional 3,959 shares during the last quarter. Spectrum Asset Management Inc. NB CA lifted its holdings in Charles Schwab by 1.1% during the 1st quarter. Spectrum Asset Management Inc. NB CA now owns 66,378 shares of the financial services provider’s stock worth $5,196,000 after buying an additional 747 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its position in shares of Charles Schwab by 107.8% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 6,059 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 3,143 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in shares of Charles Schwab by 19.0% in the 1st quarter. Simon Quick Advisors LLC now owns 10,342 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 1,654 shares during the last quarter. Finally, Ulland Investment Advisors LLC raised its position in shares of Charles Schwab by 6.9% during the 1st quarter. Ulland Investment Advisors LLC now owns 2,245 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, Director Paula A. Sneed sold 8,647 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director now owns 105,654 shares of the company’s stock, valued at approximately $9,303,891.24. The trade was a 7.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders have sold 97,608 shares of company stock worth $8,392,040 over the last 90 days. 6.30% of the stock is owned by company insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $88.36 on Thursday. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $82.58 and a two-hundred day moving average of $79.79. The company has a market capitalization of $160.55 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 0.99 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period last year, the firm posted $0.74 earnings per share. As a group, analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s dividend payout ratio is 32.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays decreased their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $82.00 in a research note on Monday. Truist Financial lifted their target price on Charles Schwab from $84.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley upped their target price on Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Finally, UBS Group raised their price target on Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $89.25.

About Charles Schwab

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.