AlphaQuest LLC Lowers Position in The Charles Schwab Corporation $SCHW

AlphaQuest LLC lowered its stake in The Charles Schwab Corporation (NYSE:SCHW) by 92.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 559 shares of the financial services provider’s stock after selling 6,972 shares during the quarter. AlphaQuest LLC’s holdings in Charles Schwab were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cary Street Partners Financial LLC bought a new position in Charles Schwab in the 4th quarter worth about $1,455,000. Independent Advisor Alliance boosted its stake in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after purchasing an additional 68,858 shares during the period. Graham Capital Management L.P. boosted its stake in Charles Schwab by 248.3% in the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider’s stock worth $8,317,000 after purchasing an additional 80,112 shares during the period. Finally, World Investment Advisors boosted its stake in Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock worth $12,760,000 after purchasing an additional 11,505 shares during the period. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SCHW. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. TD Securities raised their price target on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Piper Sandler raised their price target on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Truist Financial raised their price target on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 15th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.60.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm’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 transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’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 transaction, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,214 shares of company stock worth $29,022,580 over the last quarter. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $97.65 on Friday. The stock has a market cap of $177.26 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 0.95 and a beta of 0.96. 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 Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59. The stock’s 50-day moving average is $95.15 and its 200 day moving average is $86.25.

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, topping 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 business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the company earned $0.73 EPS. Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

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