Peterson Wealth Services Sells 336 Shares of The Charles Schwab Corporation $SCHW

Peterson Wealth Services cut its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,320 shares of the financial services provider’s stock after selling 336 shares during the period. Peterson Wealth Services’ holdings in Charles Schwab were worth $303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab during the 2nd quarter valued at $25,000. Westside Investment Management Inc. lifted its stake 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 worth $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 worth about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings 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 worth $30,000 after buying an additional 191 shares during the period. Finally, Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter valued at about $31,000. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley decreased their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Barclays boosted their price target on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Finally, Truist Financial upped their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.00.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, the insider owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock valued at $26,232,077 in the last quarter. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 0.2%

Shares of NYSE:SCHW opened at $94.37 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The company has a market capitalization of $171.30 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The company has a fifty day moving average of $94.43 and a 200-day moving average of $90.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results 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. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a share buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.