Beacon Pointe Advisors LLC Decreases Stock Holdings in The Charles Schwab Corporation $SCHW

Beacon Pointe Advisors LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,948 shares of the financial services provider’s stock after selling 2,413 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Charles Schwab were worth $17,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Princeton Global Asset Management LLC acquired a new position in Charles Schwab during the second quarter worth $25,000. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at about $31,000. Finally, Activest Wealth Management grew its stake in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SCHW shares. The Goldman Sachs Group restated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Morgan Stanley upped their target price on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Finally, TD Cowen boosted their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Performance

NYSE SCHW opened at $92.69 on Tuesday. The business’s 50-day moving average price is $93.75 and its 200 day moving average price is $93.06. 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 twelve month low of $65.88 and a twelve month high of $99.59. The company has a market capitalization of $164.70 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02.

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

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

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.