The Charles Schwab Corporation $SCHW Shares Sold by ORG Wealth Partners LLC

ORG Wealth Partners LLC lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 61.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 417 shares of the financial services provider’s stock after selling 658 shares during the quarter. ORG Wealth Partners LLC’s holdings in Charles Schwab were worth $38,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Pine Haven Investment Counsel Inc raised its position in shares of Charles Schwab by 0.3% in the second 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 during the last quarter. Traveka Wealth LLC increased its position in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares in the last quarter. Bank of Stockton lifted its stake in Charles Schwab by 1.2% in the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after acquiring an additional 123 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 129 shares during the period. Finally, HM Payson & Co. boosted its position in Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 130 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SCHW shares. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Bank of America boosted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a report on Monday, July 21st. 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 increased their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Barclays raised their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is currently owned by insiders.

Charles Schwab Trading Up 0.8%

Shares of Charles Schwab stock opened at $95.52 on Friday. The Charles Schwab Corporation has a fifty-two week low of $62.41 and a fifty-two week high of $99.59. The firm has a market cap of $173.39 billion, a PE ratio of 25.68, a P/E/G ratio of 0.94 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average is $95.55 and its two-hundred day moving average is $88.04.

Charles Schwab (NYSE:SCHW) last posted 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. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

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

Charles Schwab 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.