Garrett Wealth Advisory Group LLC Buys New Shares in The Charles Schwab Corporation $SCHW

Garrett Wealth Advisory Group LLC purchased a new position in The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,526 shares of the financial services provider’s stock, valued at approximately $230,000.

Other large investors have also made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new stake in shares of Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab in the 2nd quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Charles Schwab during the 2nd quarter valued at approximately $32,000. Hoese & Co LLP grew its holdings in Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 68,938 shares of company stock valued at $6,671,953 over the last three months. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SCHW shares. Bank of America upped their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. 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 note on Monday, October 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Stock Up 0.4%

Shares of NYSE:SCHW opened at $92.65 on Thursday. The company has a market cap of $164.63 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $94.01 and a 200 day moving average price of $92.64.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $6.38 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%.The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its Board of Directors has initiated a stock 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

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.