5 Best ESG Dividend Stocks to Buy According to Al Gore

3. The Charles Schwab Corporation (NYSE:SCHW)

Generation Investment Management’s Stake Value: $800,177,000

The Charles Schwab Corporation (NYSE:SCHW) is a Texas-based financial services company that offers investment and commercial banking services to its consumers. The company has also created an ESG investing hub to centralize information on related strategies.

During the second quarter of 2022, Generation Investment Management increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 10%. The firm’s total stake in the company amounted to over $800 million, which represented 4.36% of its 13F portfolio.

On October 26, The Charles Schwab Corporation (NYSE:SCHW) announced a quarterly dividend of $0.22 per share, in line with its previous dividend. The company has raised its dividend twice this year, after ceasing its dividend growth for a year and a half due to the pandemic. As of October 28, the stock has a dividend yield of 1.11%.

Deutsche Bank presented a bullish stance on The Charles Schwab Corporation (NYSE:SCHW)’s fall business. The firm raised its price target on the stock in October with a Buy rating on the shares.

At the end of Q2 2022, 68 hedge funds tracked by Insider Monkey owned stakes in The Charles Schwab Corporation (NYSE:SCHW), compared with 78 in the previous quarter. These stakes have a total value of over $4.5 billion.

RiverPark Funds mentioned The Charles Schwab Corporation (NYSE:SCHW) in its Q3 2022 investor letter. Here is what the firm has to say:

“SCHW reported solid 2Q business metrics in July, with revenue up 13% year over year, and net income up 42% year over year. Schwab and TD Ameritrade (which Schwab acquired in October 2020) have been the leading share gainers in the discount brokerage industry over the last decade, with both generating substantial organic asset growth while also growing operating margins and remaining amongst the price leaders on all products. With these two businesses now combined, revenue and expense synergies should accelerate in 2023, and we believe the company will be in an even stronger position to gather assets and drive long-term margins and free cash flow in the years to come. Moreover, the combination of steadily rising short-term rates (which should benefit net interest income), plus acquisition synergies from the AMTD deal, gives us confidence that SCHW is poised to generate continued double-digit earnings growth for the foreseeable future.”