Fairfield Financial Advisors LTD Makes New $86,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Morningstar Investment Services LLC grew its holdings in 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 buying an additional 2,322,156 shares during the period. M&G Plc acquired a new stake in shares of Charles Schwab in the first quarter worth approximately $11,452,000. Franklin Resources Inc. grew its holdings in Charles Schwab by 19.7% in the fourth 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. Daiwa Securities Group Inc. increased its position in Charles Schwab by 10.4% during the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in Charles Schwab by 12.2% during the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 1,430 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.6 %

Shares of NYSE SCHW opened at $62.12 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The stock’s 50-day simple moving average is $65.33 and its 200-day simple moving average is $70.07. The firm has a market cap of $110.48 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.16 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.05 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 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.61%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Buying and Selling at Charles Schwab

In related news, President Richard A. Wurster bought 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, with a total value of $620,500.00. Following the transaction, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Richard A. Wurster purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the transaction, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock worth $6,533,064 in the last ninety days. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SCHW. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $64.00 in a research note on Monday, July 29th. TD Cowen reissued a “hold” rating and set a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Wells Fargo & Company initiated coverage on Charles Schwab in a report on Thursday. They issued an “equal weight” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group raised their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.75.

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.