Peterson Wealth Services Has $303,000 Stock Position in The Charles Schwab Corporation $SCHW

Peterson Wealth Services reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,320 shares of the financial services provider’s stock after selling 336 shares during the quarter. Peterson Wealth Services’ holdings in Charles Schwab were worth $303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the second quarter worth $25,000. Westside Investment Management Inc. raised its holdings in shares of Charles Schwab by 75.0% during the first 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 during the period. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of 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 buying an additional 191 shares during the period. Finally, Stone House Investment Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at about $31,000. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Truist Financial upped their target price on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, TD Cowen raised their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s 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 completion of the sale, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 trade represents a 29.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. Insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 0.2%

NYSE:SCHW opened at $94.37 on Friday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The firm has a market cap of $171.30 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The firm has a 50-day moving average price of $94.43 and a two-hundred day moving average price of $90.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

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

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.