4,210 Shares in The Charles Schwab Co. (NYSE:SCHW) Bought by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,210 shares of the financial services provider’s stock, valued at approximately $310,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Morningstar Investment Services LLC lifted its holdings in shares of Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after buying an additional 2,322,156 shares in the last quarter. M&G Plc bought a new stake in Charles Schwab during the 1st quarter worth approximately $11,452,000. Daiwa Securities Group Inc. lifted its stake in Charles Schwab by 10.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares in the last quarter. Wedmont Private Capital boosted its holdings in Charles Schwab by 12.2% in the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 1,430 shares during the period. Finally, Teewinot Capital Advisers L.L.C. grew its position in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after purchasing an additional 64,041 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 0.6 %

NYSE SCHW opened at $64.81 on Tuesday. The stock has a 50-day moving average of $64.10 and a 200-day moving average of $69.84. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The firm has a market cap of $115.19 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.21 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Activity

In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Walter W. Bettinger acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the acquisition, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,355,175. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,636 shares of company stock valued at $6,457,104. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SCHW shares. Citigroup reduced their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Morgan Stanley dropped their target price on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. TD Cowen reissued a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, JMP Securities dropped their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.31.

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.