Fairfield Financial Advisors LTD Buys New Stake in The Charles Schwab Co. (NYSE:SCHW)

Fairfield Financial Advisors LTD purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,173 shares of the financial services provider’s stock, valued at approximately $86,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Norges Bank purchased a new stake in shares of Charles Schwab in the 4th quarter valued at about $950,192,000. Morningstar Investment Services LLC lifted its holdings in shares of Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Charles Schwab by 19.7% in the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after purchasing an additional 1,558,975 shares during the period. Finally, Mondrian Investment Partners LTD grew its stake in Charles Schwab by 28,736.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after buying an additional 1,480,485 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on SCHW. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley dropped their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. JMP Securities decreased their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, TD Cowen reissued a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.75.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total value of $652,410.00. Following the sale, the director now directly owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,533,064 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Up 0.6 %

Shares of NYSE SCHW opened at $62.12 on Monday. The stock has a market capitalization of $110.48 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The firm has a 50-day moving average price of $65.33 and a 200 day moving average price of $70.07. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Equities research analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

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.