Howard Hughes Medical Institute Raises Position in The Charles Schwab Corporation (SCHW)

Howard Hughes Medical Institute increased its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 36.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,817 shares of the financial services provider’s stock after buying an additional 4,755 shares during the quarter. Howard Hughes Medical Institute’s holdings in The Charles Schwab Corporation were worth $765,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SCHW. BlackRock Inc. increased its holdings in The Charles Schwab Corporation by 1,921.5% in the 1st quarter. BlackRock Inc. now owns 71,876,119 shares of the financial services provider’s stock worth $2,933,263,000 after buying an additional 68,320,480 shares during the period. Findlay Park Partners LLP acquired a new position in The Charles Schwab Corporation in the 1st quarter worth approximately $218,669,000. FMR LLC increased its holdings in The Charles Schwab Corporation by 18.2% in the 1st quarter. FMR LLC now owns 27,637,472 shares of the financial services provider’s stock worth $1,127,886,000 after buying an additional 4,259,181 shares during the period. Vanguard Group Inc. increased its holdings in The Charles Schwab Corporation by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 79,388,639 shares of the financial services provider’s stock worth $3,239,850,000 after buying an additional 3,063,203 shares during the period. Finally, Waddell & Reed Financial Inc. increased its holdings in The Charles Schwab Corporation by 69.3% in the 1st quarter. Waddell & Reed Financial Inc. now owns 6,367,351 shares of the financial services provider’s stock worth $259,851,000 after buying an additional 2,605,949 shares during the period. Institutional investors own 79.60% of the company’s stock.

In related news, Chairman Charles R. Schwab sold 350,000 shares of The Charles Schwab Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $43.10, for a total value of $15,085,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Terri R. Kallsen sold 10,536 shares of The Charles Schwab Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total value of $454,628.40. Following the completion of the sale, the executive vice president now owns 5,212 shares in the company, valued at $224,897.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 925,122 shares of company stock worth $39,733,977. Company insiders own 12.00% of the company’s stock.

Several equities analysts recently weighed in on the stock. BidaskClub downgraded shares of The Charles Schwab Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $49.00 price target on shares of The Charles Schwab Corporation in a report on Friday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 price target on shares of The Charles Schwab Corporation in a report on Friday. Citigroup Inc. assumed coverage on shares of The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, Rosenblatt Securities assumed coverage on shares of The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.83.

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Shares of The Charles Schwab Corporation (NYSE:SCHW) traded up 0.55% on Friday, hitting $40.21. The stock had a trading volume of 14,222,833 shares. The firm has a 50 day moving average of $40.53 and a 200 day moving average of $40.80. The stock has a market cap of $53.85 billion, a P/E ratio of 26.99 and a beta of 1.64. The Charles Schwab Corporation has a 12 month low of $29.86 and a 12 month high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.80%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.

The Charles Schwab Corporation Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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