Apollon Wealth Management LLC Acquires 785 Shares of The Charles Schwab Corporation $SCHW

Apollon Wealth Management LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,504 shares of the financial services provider’s stock after purchasing an additional 785 shares during the period. Apollon Wealth Management LLC’s holdings in Charles Schwab were worth $3,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab during the 1st quarter valued at about $79,605,000. Independent Advisor Alliance boosted its holdings in Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after acquiring an additional 68,858 shares in the last quarter. PFG Investments LLC boosted its holdings in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 550 shares in the last quarter. Finally, United Services Automobile Association boosted its holdings in Charles Schwab by 14.1% in the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock worth $3,074,000 after acquiring an additional 4,869 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 2.1%

SCHW stock opened at $92.08 on Monday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. 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 stock’s 50 day moving average is $94.97 and its 200-day moving average is $89.19. The firm has a market capitalization of $167.15 billion, a PE ratio of 24.75, a P/E/G ratio of 0.89 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 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The company 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%.Charles Schwab’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Bank of America increased their price target on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Morgan Stanley cut their price target on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.57.

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.