State of Alaska Department of Revenue Purchases 755 Shares of The Charles Schwab Co. (NYSE:SCHW)

State of Alaska Department of Revenue boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,482 shares of the financial services provider’s stock after purchasing an additional 755 shares during the quarter. State of Alaska Department of Revenue’s holdings in Charles Schwab were worth $11,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dudley & Shanley Inc. bought a new stake in shares of Charles Schwab in the 1st quarter valued at about $13,650,000. MBM Wealth Consultants LLC increased its stake in shares of Charles Schwab by 14.0% in the 1st quarter. MBM Wealth Consultants LLC now owns 15,909 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 1,951 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of Charles Schwab by 1.3% in the 1st quarter. SeaCrest Wealth Management LLC now owns 15,855 shares of the financial services provider’s stock valued at $1,147,000 after acquiring an additional 198 shares during the last quarter. West Oak Capital LLC increased its stake in shares of Charles Schwab by 1.1% in the 1st quarter. West Oak Capital LLC now owns 29,635 shares of the financial services provider’s stock valued at $2,144,000 after acquiring an additional 325 shares during the last quarter. Finally, CAP Partners LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at approximately $206,000. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SCHW shares. Morgan Stanley boosted their price objective on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. TD Cowen reduced their price target on Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, May 28th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $76.00 price objective on shares of Charles Schwab in a report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average target price of $75.56.

Charles Schwab Stock Performance

NYSE:SCHW opened at $74.08 on Thursday. The stock’s 50-day simple moving average is $74.38 and its 200 day simple moving average is $69.88. The firm has a market capitalization of $131.66 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.15 and a beta of 0.99. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. On average, analysts anticipate that The Charles Schwab Co. will post 3.25 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, CFO Peter B. Crawford sold 5,482 shares of Charles Schwab stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the completion of the sale, the chief financial officer now directly owns 60,567 shares in the company, valued at $4,449,251.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Peter J. Morgan III sold 24,520 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter B. Crawford sold 5,482 shares of Charles Schwab stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total value of $402,707.72. Following the transaction, the chief financial officer now directly owns 60,567 shares in the company, valued at approximately $4,449,251.82. The disclosure for this sale can be found here. Insiders sold 658,663 shares of company stock worth $48,997,146 over the last ninety days. 6.60% of the stock is owned by insiders.

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.