The Charles Schwab Corporation $SCHW Shares Bought by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,794 shares of the financial services provider’s stock after acquiring an additional 214 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Charles Schwab were worth $802,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP grew its position in Charles Schwab by 595.7% in the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after acquiring an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Charles Schwab by 229.3% during the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after buying an additional 9,749,728 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Charles Schwab during the 1st quarter valued at approximately $440,699,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the business’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 value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last quarter. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 0.2%

Shares of Charles Schwab stock opened at $93.82 on Thursday. The firm has a market cap of $170.30 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.91 and a beta of 0.97. 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 52-week low of $64.97 and a 52-week high of $99.59. The stock has a 50-day simple moving average of $95.11 and a 200-day simple moving average of $88.89.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 EPS. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Announces Dividend

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

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research analyst reports. Truist Financial set a $112.00 price objective on Charles Schwab in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Morgan Stanley lowered their target price 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 company an “overweight” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $100.57.

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.