Whipplewood Advisors LLC Has $43,000 Stock Holdings in The Charles Schwab Corporation $SCHW

Whipplewood Advisors LLC cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 98.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 471 shares of the financial services provider’s stock after selling 22,605 shares during the quarter. Whipplewood Advisors LLC’s holdings in Charles Schwab were worth $43,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Pine Haven Investment Counsel Inc boosted its position in Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares during the period. Principle Wealth Partners LLC boosted its position in Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock worth $537,000 after buying an additional 113 shares during the period. Traveka Wealth LLC boosted its position in Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after buying an additional 117 shares during the period. Leavell Investment Management Inc. boosted its position in Charles Schwab by 1.0% during the 2nd quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 118 shares during the period. Finally, Tlwm boosted its position in Charles Schwab by 0.7% during the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after buying an additional 120 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Finally, Citigroup boosted their price target 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. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Charles Schwab Stock Up 0.4%

Charles Schwab stock opened at $94.76 on Tuesday. 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 firm’s fifty day moving average is $94.40 and its 200 day moving average is $90.73. The company has a market capitalization of $172.01 billion, a PE ratio of 22.19, a PEG ratio of 0.85 and a beta of 0.97.

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, beating 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 $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the previous year, the company earned $0.71 EPS. Charles Schwab’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab announced that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were 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 $1,154,265.63. The trade was a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders have sold 69,156 shares of company stock worth $6,686,934 in the last quarter. Company insiders own 6.30% of the company’s stock.

Charles Schwab Company 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.