Cranbrook Wealth Management LLC Takes Position in The Charles Schwab Co. (NYSE:SCHW)

Cranbrook Wealth Management LLC acquired a new position in The Charles Schwab Co. (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,230 shares of the financial services provider’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nelson Capital Management LLC increased its position in shares of Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after buying an additional 141 shares during the period. Abbrea Capital LLC increased its holdings in shares of Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the period. Ironwood Financial llc raised its position in shares of Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after buying an additional 160 shares in the last quarter. Ascent Wealth Partners LLC boosted its stake in Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares during the period. Finally, Sculati Wealth Management LLC grew its position in Charles Schwab by 0.4% during the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after buying an additional 165 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock valued at $6,533,064 over the last ninety days. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

SCHW opened at $63.72 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s 50 day simple moving average is $65.14 and its 200 day simple moving average is $70.05. The firm has a market cap of $113.31 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results 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 firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. As a group, analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Ratings Changes

Several research firms have weighed in on SCHW. JMP Securities lowered their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. UBS Group dropped their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Piper Sandler lowered 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 report on Monday, July 29th. Bank of America lowered their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Morgan Stanley cut their target price on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.