Morling Financial Advisors LLC Lowers Holdings in The Charles Schwab Corporation $SCHW

Morling Financial Advisors LLC decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,386 shares of the financial services provider’s stock after selling 684 shares during the quarter. Morling Financial Advisors LLC’s holdings in Charles Schwab were worth $218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after purchasing an additional 2,786,829 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares during the period. Geode Capital Management LLC boosted its position in Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after acquiring an additional 1,038,376 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Charles Schwab by 10.8% in the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after acquiring an additional 1,700,384 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Charles Schwab by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after acquiring an additional 2,355,309 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SCHW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Finally, Morgan Stanley upped their price target on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 68,938 shares of company stock valued at $6,671,953. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 0.4%

NYSE:SCHW opened at $92.32 on Wednesday. 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 cap of $164.05 billion, a PE ratio of 21.62, a P/E/G ratio of 0.85 and a beta of 1.02. The company’s 50 day moving average is $94.00 and its two-hundred day moving average is $92.64.

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

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is 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.