Alpha DNA Investment Management LLC Buys 12,973 Shares of The Charles Schwab Co. (NYSE:SCHW)

Alpha DNA Investment Management LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 72.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,988 shares of the financial services provider’s stock after buying an additional 12,973 shares during the period. Charles Schwab comprises about 0.9% of Alpha DNA Investment Management LLC’s holdings, making the stock its 12th largest position. Alpha DNA Investment Management LLC’s holdings in Charles Schwab were worth $2,283,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Country Trust Bank purchased a new position in shares of Charles Schwab in the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC increased its position in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of Charles Schwab during the 2nd quarter worth $27,000. CGC Financial Services LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab during the second quarter valued at about $29,000. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,636 shares of company stock valued at $6,457,104. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCHW. Bank of America reduced their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group upped their price target on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Thursday, August 22nd. 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. Finally, Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $64.00 in a research report on Monday, July 29th. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.75.

Charles Schwab Stock Performance

Charles Schwab stock opened at $64.60 on Wednesday. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm’s fifty day moving average price is $64.02 and its 200-day moving average price is $69.91. The stock has a market cap of $114.89 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. On average, equities research analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. Charles Schwab’s payout ratio is 41.84%.

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.