The Charles Schwab Corporation $SCHW Shares Bought by Red Spruce Capital LLC

Red Spruce Capital LLC lifted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 29.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 55,267 shares of the financial services provider’s stock after buying an additional 12,484 shares during the period. Charles Schwab makes up 1.8% of Red Spruce Capital LLC’s holdings, making the stock its 15th largest holding. Red Spruce Capital LLC’s holdings in Charles Schwab were worth $5,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the company. Dogwood Wealth Management LLC raised its holdings in Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Charles Schwab in the first quarter valued at $29,000. Optima Capital LLC purchased a new position in shares of Charles Schwab in the fourth quarter valued at $30,000. McIlrath & Eck LLC raised its stake in shares of Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after buying an additional 189 shares during the last quarter. Finally, Main Street Group LTD acquired a new position in shares of Charles Schwab during the 1st quarter worth $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total transaction of $208,420.00. Following the transaction, the insider owned 11,738 shares of the company’s stock, valued at $1,223,216.98. This represents a 14.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 93,408 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $104.64, for a total value of $9,774,213.12. Following the sale, the chairman owned 529,346 shares in the company, valued at $55,390,765.44. This trade represents a 15.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 363,848 shares of company stock valued at $37,874,706 in the last 90 days. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Wolfe Research restated an “outperform” rating and set a $127.00 target price on shares of Charles Schwab in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Price Performance

NYSE:SCHW opened at $107.65 on Friday. The firm has a market cap of $187.22 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average is $96.88 and its two-hundred day moving average is $95.57. The Charles Schwab Corporation has a 12-month low of $83.96 and a 12-month high of $109.05.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.06. The company had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. Research analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Dividend Announcement

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 given a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.

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.