The Charles Schwab Corporation $SCHW Stock Position Boosted by VSM Wealth Advisory LLC

VSM Wealth Advisory LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 80.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,769 shares of the financial services provider’s stock after buying an additional 789 shares during the period. VSM Wealth Advisory LLC’s holdings in Charles Schwab were worth $161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Copperleaf Capital LLC boosted its stake in Charles Schwab by 1.5% during the 2nd quarter. Copperleaf Capital LLC now owns 24,804 shares of the financial services provider’s stock valued at $2,263,000 after purchasing an additional 355 shares in the last quarter. Primecap Management Co. CA raised its position in Charles Schwab by 35.9% in the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after acquiring an additional 5,032,728 shares in the last quarter. Aspen Investment Management Inc lifted its holdings in Charles Schwab by 1.3% in the 2nd quarter. Aspen Investment Management Inc now owns 24,470 shares of the financial services provider’s stock valued at $2,233,000 after acquiring an additional 305 shares during the last quarter. Traub Capital Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at about $74,000. Finally, Perennial Investment Advisors LLC grew its stake in shares of Charles Schwab by 12.9% in the 2nd quarter. Perennial Investment Advisors LLC now owns 3,696 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 423 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SCHW shares. BMO Capital Markets started coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction 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 owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

SCHW stock opened at $92.32 on Wednesday. The firm has a 50 day simple moving average of $94.00 and a 200 day simple moving average of $92.64. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock has a market cap of $164.05 billion, a P/E ratio of 21.62, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last released its 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. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.27 dividend. The ex-dividend date is 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 is currently 25.29%.

Charles Schwab announced that its Board of Directors has authorized a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors 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.