Marshall & Sullivan Inc. WA Sells 944 Shares of The Charles Schwab Corporation $SCHW

Marshall & Sullivan Inc. WA decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,042 shares of the financial services provider’s stock after selling 944 shares during the period. Charles Schwab comprises approximately 3.2% of Marshall & Sullivan Inc. WA’s investment portfolio, making the stock its 10th largest holding. Marshall & Sullivan Inc. WA’s holdings in Charles Schwab were worth $6,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. Atwood & Palmer Inc. purchased a new position in shares of Charles Schwab during the 1st quarter valued at approximately $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SCHW shares. Raymond James Financial restated an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Piper Sandler raised their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Morgan Stanley lifted their price target on Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Truist Financial lifted their price target on Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Sixteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Charles Schwab Stock Performance

Shares of SCHW opened at $94.27 on Friday. The stock has a 50 day moving average price of $95.42 and a 200 day moving average price of $87.26. 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 company has a market capitalization of $171.12 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The Charles Schwab Corporation has a 52-week low of $62.41 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share. Research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is presently 29.03%.

Charles Schwab declared that its board has initiated a stock buyback program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is owned by insiders.

Charles Schwab Company Profile

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.