CMG Global Holdings LLC Acquires 513 Shares of The Charles Schwab Corporation $SCHW

CMG Global Holdings LLC boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,108 shares of the financial services provider’s stock after purchasing an additional 513 shares during the quarter. CMG Global Holdings LLC’s holdings in Charles Schwab were worth $696,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. RMG Wealth Management LLC bought a new stake in Charles Schwab in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the first quarter worth approximately $31,000. Finally, Activest Wealth Management grew its stake in Charles Schwab by 6,650.0% in the first 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 period. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Up 0.8%

Shares of NYSE:SCHW opened at $94.17 on Monday. The stock has a market cap of $170.93 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.88 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The business’s 50 day moving average is $94.68 and its 200 day moving average is $89.76.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has authorized a stock buyback program on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s payout ratio is currently 25.29%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research reports. Bank of America raised their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. BMO Capital Markets initiated coverage on Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. TD Cowen raised their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Finally, William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $104.70.

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.