Vise Technologies Inc. Takes $1.77 Million Position in The Charles Schwab Corporation $SCHW

Vise Technologies Inc. bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,342 shares of the financial services provider’s stock, valued at approximately $1,765,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCHW. Brighton Jones LLC boosted its position in shares of Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 19,195 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Charles Schwab by 4.3% in the 1st quarter. Bleakley Financial Group LLC now owns 26,426 shares of the financial services provider’s stock worth $2,069,000 after acquiring an additional 1,082 shares during the last quarter. Signaturefd LLC increased its holdings in Charles Schwab by 9.4% during the 1st quarter. Signaturefd LLC now owns 27,797 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 2,387 shares during the period. Sigma Planning Corp lifted its stake in Charles Schwab by 58.1% in the first quarter. Sigma Planning Corp now owns 13,516 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 4,965 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in shares of Charles Schwab by 5.6% during the 1st quarter. Apollon Wealth Management LLC now owns 37,719 shares of the financial services provider’s stock valued at $2,953,000 after purchasing an additional 1,985 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $96.05 on Wednesday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $94.02 and a 200 day moving average of $92.19. The firm has a market cap of $170.67 billion, a PE ratio of 22.49, a PEG ratio of 0.85 and a beta of 1.02.

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

Charles Schwab Announces Dividend

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 paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 25.29%.

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

Analyst Ratings Changes

A number of research firms have issued reports on SCHW. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Morgan Stanley upped their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 65,866 shares of company stock worth $6,370,897 over the last 90 days. Company insiders own 6.30% of the company’s stock.

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.