Sax Wealth Advisors LLC Has $802,000 Position in The Charles Schwab Corporation $SCHW

Sax Wealth Advisors LLC increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 2.5% in the 2nd quarter, Holdings Channel reports. The firm owned 8,794 shares of the financial services provider’s stock after purchasing an additional 214 shares during the period. Sax Wealth Advisors LLC’s holdings in Charles Schwab were worth $802,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in SCHW. Brighton Jones LLC increased its position in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 19,195 shares during the period. Wedge Capital Management L L P NC bought a new position in Charles Schwab in the 1st quarter worth approximately $256,000. Capital Investment Advisors LLC increased its position in Charles Schwab by 13.8% in the 1st quarter. Capital Investment Advisors LLC now owns 7,996 shares of the financial services provider’s stock worth $626,000 after buying an additional 969 shares during the period. Farther Finance Advisors LLC increased its position in Charles Schwab by 28.9% in the 1st quarter. Farther Finance Advisors LLC now owns 14,275 shares of the financial services provider’s stock worth $1,109,000 after buying an additional 3,199 shares during the period. Finally, Pallas Capital Advisors LLC bought a new position in Charles Schwab in the 1st quarter worth approximately $1,409,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SCHW. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Barclays restated an “overweight” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, Citigroup upped their price target on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.57.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.82 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $170.30 billion, a P/E ratio of 25.22, a P/E/G ratio of 0.91 and a beta of 0.97. The business’s fifty day moving average is $95.11 and its two-hundred day moving average is $88.89. The Charles Schwab Corporation has a 52 week low of $64.97 and a 52 week high of $99.59.

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

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

Charles Schwab declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock valued at $26,232,077 over the last ninety days. Company insiders own 6.30% of the company’s stock.

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.