Mount Vernon Associates Inc. MD Increases Stake in The Charles Schwab Corporation $SCHW

Mount Vernon Associates Inc. MD increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 30,300 shares of the financial services provider’s stock after purchasing an additional 200 shares during the period. Charles Schwab makes up about 2.0% of Mount Vernon Associates Inc. MD’s portfolio, making the stock its 17th biggest position. Mount Vernon Associates Inc. MD’s holdings in Charles Schwab were worth $2,765,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Talbot Financial LLC boosted its position in Charles Schwab by 16.3% during the second quarter. Talbot Financial LLC now owns 184,574 shares of the financial services provider’s stock valued at $16,841,000 after purchasing an additional 25,913 shares in the last quarter. Clarius Group LLC boosted its position in Charles Schwab by 9.4% during the second quarter. Clarius Group LLC now owns 10,801 shares of the financial services provider’s stock valued at $985,000 after purchasing an additional 931 shares in the last quarter. Figure 8 Investment Strategies LLC bought a new stake in Charles Schwab during the second quarter valued at about $924,000. LGT Fund Management Co Ltd. boosted its position in Charles Schwab by 229.4% during the second quarter. LGT Fund Management Co Ltd. now owns 18,129 shares of the financial services provider’s stock valued at $1,654,000 after purchasing an additional 12,625 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its position in Charles Schwab by 8.6% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 67,428 shares of the financial services provider’s stock valued at $6,152,000 after purchasing an additional 5,341 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.5%

Shares of NYSE:SCHW opened at $94.13 on Friday. The Charles Schwab Corporation has a 52-week low of $64.07 and a 52-week high of $99.59. The stock has a market cap of $170.87 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.91 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 business has a 50-day moving average price of $95.37 and a 200-day moving average price of $88.64.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and raised their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Truist Financial set a $112.00 price objective on Charles Schwab in a research report on Thursday. Barclays raised their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, Bank of America raised their price target on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.52.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% 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 Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by company insiders.

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.