Geode Capital Management LLC Purchases 760,043 Shares of The Charles Schwab Co. (NYSE:SCHW)

Geode Capital Management LLC boosted its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,901,484 shares of the financial services provider's stock after purchasing an additional 760,043 shares during the period. Geode Capital Management LLC owned approximately 1.74% of Charles Schwab worth $2,279,742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab during the fourth quarter valued at approximately $38,000. Atala Financial Inc bought a new stake in shares of Charles Schwab during the 4th quarter valued at $41,000. Knuff & Co LLC increased its stake in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners bought a new position in Charles Schwab in the 4th quarter worth $46,000. Finally, Whipplewood Advisors LLC purchased a new position in Charles Schwab during the fourth quarter valued at $46,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

Charles Schwab stock traded down $3.69 during mid-day trading on Thursday, reaching $74.90. 13,516,765 shares of the company's stock traded hands, compared to its average volume of 8,922,844. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $79.48 and a two-hundred day moving average of $75.69. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a market cap of $135.83 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 0.99 and a beta of 0.91.

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Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. Equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.44%. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab's dividend payout ratio is currently 36.12%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Redburn Partners decreased their price objective on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. TD Cowen raised shares of Charles Schwab from a "hold" rating to a "buy" rating and increased their price objective for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. UBS Group increased their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, JMP Securities restated a "market outperform" rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.28.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the transaction, the insider now owns 45,824 shares of the company's stock, valued at approximately $3,548,152.32. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab 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.