Geode Capital Management LLC Has $1.95 Billion Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Geode Capital Management LLC lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,141,441 shares of the financial services provider's stock after buying an additional 445,304 shares during the period. Geode Capital Management LLC owned about 1.69% of Charles Schwab worth $1,945,614,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SCHW. Greenwood Gearhart Inc. increased its position in shares of Charles Schwab by 9.3% during the 3rd quarter. Greenwood Gearhart Inc. now owns 162,885 shares of the financial services provider's stock worth $10,557,000 after purchasing an additional 13,817 shares during the last quarter. Brophy Wealth Management LLC bought a new position in shares of Charles Schwab in the third quarter valued at $626,000. Nabity Jensen Investment Management Inc acquired a new position in Charles Schwab during the third quarter worth $720,000. Continuum Advisory LLC raised its position in Charles Schwab by 3.8% during the third quarter. Continuum Advisory LLC now owns 8,554 shares of the financial services provider's stock worth $554,000 after acquiring an additional 316 shares in the last quarter. Finally, LRI Investments LLC lifted its stake in Charles Schwab by 9.8% in the third quarter. LRI Investments LLC now owns 2,271 shares of the financial services provider's stock valued at $147,000 after acquiring an additional 203 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,968 shares of company stock valued at $9,419,271 over the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.09 during mid-day trading on Wednesday, hitting $82.41. 6,323,295 shares of the stock traded hands, compared to its average volume of 7,994,899. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. The firm has a 50 day simple moving average of $74.78 and a two-hundred day simple moving average of $70.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $146.66 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab's dividend payout ratio (DPR) is presently 39.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SCHW shares. Barclays raised shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $74.00 to $95.00 in a report on Monday. StockNews.com upgraded Charles Schwab from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. Jefferies Financial Group lifted their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $77.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $78.81.

About Charles Schwab

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.