Tower View Wealth Management LLC Makes New $212,000 Investment in The Charles Schwab Corporation $SCHW

Tower View Wealth Management LLC acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,323 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Bain Capital Public Equity Management II LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at $79,605,000. Independent Advisor Alliance lifted its stake in shares of Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Charles Schwab by 14.1% in the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after purchasing an additional 4,869 shares during the last quarter. Finally, World Investment Advisors lifted its stake in shares of Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock valued at $12,760,000 after purchasing an additional 11,505 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares in the company, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SCHW has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $100.05.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $92.75 on Friday. The stock’s 50-day moving average is $95.42 and its two-hundred day moving average is $88.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 1-year low of $62.41 and a 1-year high of $99.59. The company has a market cap of $168.36 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the business earned $0.73 EPS. Charles Schwab’s revenue was up 24.8% on a year-over-year basis. Analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has approved a share repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio is 29.03%.

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.