The Charles Schwab Corporation $SCHW Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 30,536 shares of the financial services provider’s stock after selling 710 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Charles Schwab were worth $2,786,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bryn Mawr Trust Advisors LLC increased its stake in Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after purchasing an additional 107 shares during the last quarter. Pine Haven Investment Counsel Inc boosted its holdings in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 110 shares in the last quarter. Principle Wealth Partners LLC grew its position in shares of Charles Schwab by 2.0% in the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after buying an additional 113 shares during the last quarter. Traveka Wealth LLC grew its position in shares of Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after buying an additional 117 shares during the last quarter. Finally, 1ST Source Bank raised its stake in Charles Schwab by 0.5% during the 2nd quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock worth $2,161,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $95.33 on Monday. 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 firm has a market cap of $173.05 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The firm’s fifty day moving average price is $94.03 and its 200 day moving average price is $91.96. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the business earned $0.71 EPS. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s payout ratio is currently 25.29%.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial upped their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. BMO Capital Markets initiated coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.45.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of the 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 transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,866 shares of company stock worth $6,370,897. Company insiders own 6.30% of the company’s stock.

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.