Transcend Capital Advisors LLC Raises Holdings in The Charles Schwab Corporation $SCHW

Transcend Capital Advisors LLC grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 142.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,813 shares of the financial services provider’s stock after buying an additional 4,008 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Charles Schwab were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Brighton Jones LLC grew its stake in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Charles Schwab by 2.9% in the first quarter. Avidian Wealth Enterprises LLC now owns 5,439 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 154 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Charles Schwab in the first quarter valued at about $52,000. Westside Investment Management Inc. increased its holdings in shares of Charles Schwab by 75.0% in 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. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Charles Schwab in the first quarter valued at about $3,663,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. Bank of America upped their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Barclays lifted their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. One investment 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 issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 69,156 shares of company stock valued at $6,686,934 in the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $93.78 on Wednesday. The stock’s 50-day moving average is $94.36 and its two-hundred day moving average is $90.87. 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 $65.88 and a 1-year high of $99.59. The company has a market cap of $170.23 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the business earned $0.71 EPS. Charles Schwab’s revenue was up 26.6% 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

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

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.