Muirfield Wealth Advisors LLC Acquires New Position in The Charles Schwab Corporation $SCHW

Muirfield Wealth Advisors LLC acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,266 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other institutional investors have also modified their holdings of SCHW. Westside Investment Management Inc. grew its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. RMG Wealth Management LLC bought a new stake in shares of Charles Schwab during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab during the 1st quarter valued at about $31,000. Finally, Activest Wealth Management grew its position in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 2.1%

Charles Schwab stock opened at $92.08 on Friday. The firm has a 50 day simple moving average of $94.97 and a 200-day simple moving average of $89.13. 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 stock has a market capitalization of $167.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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 analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its Board of Directors has approved 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 often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Truist Financial set a $112.00 target price on shares of Charles Schwab in a research report on Thursday, October 2nd. Citigroup upped their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Barclays restated an “overweight” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Insider Buying and Selling at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider 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 can be found here. Over the last quarter, insiders sold 267,128 shares of company stock valued at $26,232,077. Corporate insiders own 6.30% of the company’s stock.

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.