WealthShield Partners LLC Has $259,000 Stock Position in The Charles Schwab Corporation $SCHW

by · The Cerbat Gem

WealthShield Partners LLC cut its holdings in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 19.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,837 shares of the financial services provider’s stock after selling 664 shares during the quarter. WealthShield Partners LLC’s holdings in Charles Schwab were worth $259,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Charles Schwab by 3.6% during the first quarter. Private Advisor Group LLC now owns 101,695 shares of the financial services provider’s stock worth $7,961,000 after buying an additional 3,536 shares in the last quarter. FAS Wealth Partners Inc. bought a new position in shares of Charles Schwab in the 1st quarter valued at $203,000. Kestra Private Wealth Services LLC boosted its holdings in shares of Charles Schwab by 7.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 10,136 shares of the financial services provider’s stock valued at $793,000 after acquiring an additional 721 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its position in Charles Schwab by 40.0% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 6,300 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 68,938 shares of company stock worth $6,671,953. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $94.65 on Monday. The company has a market capitalization of $168.18 billion, a PE ratio of 22.10, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The firm has a fifty day simple moving average of $94.06 and a 200 day simple moving average of $92.51.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the business posted $0.71 EPS. The business’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has approved a share repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s payout ratio is 25.29%.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent research reports. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Morgan Stanley boosted their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Bank of America boosted their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods raised their target price on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Check Out Our Latest Stock Analysis on Charles Schwab

Charles Schwab Profile

(Free Report)

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.

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