Asset Advisors Investment Management LLC Purchases 945 Shares of The Charles Schwab Corporation $SCHW

Asset Advisors Investment Management LLC lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 165,817 shares of the financial services provider’s stock after purchasing an additional 945 shares during the quarter. Charles Schwab accounts for about 1.5% of Asset Advisors Investment Management LLC’s holdings, making the stock its 23rd largest position. Asset Advisors Investment Management LLC’s holdings in Charles Schwab were worth $15,129,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Pine Haven Investment Counsel Inc grew its position in Charles Schwab by 0.3% during the second 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 in the last quarter. Traveka Wealth LLC grew its position in Charles Schwab by 4.3% during the second 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 in the last quarter. Bank of Stockton grew its position in Charles Schwab by 1.2% during the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after buying an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after buying an additional 129 shares in the last quarter. Finally, HM Payson & Co. grew its position in Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 130 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SCHW shares. Citigroup boosted their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Bank of America boosted their target price on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday. Raymond James Financial reiterated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Finally, Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $100.05.

Charles Schwab Trading Up 0.5%

NYSE SCHW opened at $92.75 on Friday. The Charles Schwab Corporation has a fifty-two week low of $62.41 and a fifty-two week high of $99.59. 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 stock has a 50 day simple moving average of $95.42 and a two-hundred day simple moving average of $88.46. The stock has a market cap of $168.36 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its earnings results 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 analyst estimates of $5.64 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

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

Insiders Place Their Bets

In related news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The stock was 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. In the last quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by corporate insiders.

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.