Cutler Investment Counsel LLC Has $15.38 Million Stake in The Charles Schwab Corporation (NYSE:SCHW)

Cutler Investment Counsel LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 196,479 shares of the financial services provider’s stock after selling 6,205 shares during the quarter. Charles Schwab comprises 1.8% of Cutler Investment Counsel LLC’s portfolio, making the stock its 20th biggest holding. Cutler Investment Counsel LLC’s holdings in Charles Schwab were worth $15,380,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Sheaff Brock Investment Advisors LLC increased 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 during the last quarter. HM Payson & Co. grew its position in shares of Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 132 shares during the last quarter. Journey Strategic Wealth LLC grew its position in shares of Charles Schwab by 3.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 135 shares during the last quarter. Finally, Premier Path Wealth Partners LLC grew its position in shares of Charles Schwab by 1.8% in the first quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 140 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.0%

NYSE SCHW opened at $97.92 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $90.69 and its two-hundred day moving average is $83.22. The company has a market capitalization of $177.92 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 0.94 and a beta of 0.93. The Charles Schwab Corporation has a 1-year low of $61.15 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. Charles Schwab’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has authorized a stock repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Insider Buying and Selling

In other news, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director owned 105,654 shares of the company’s stock, valued at $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,313 shares of company stock valued at $10,264,091 in the last ninety days. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SCHW. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Friday, April 25th. Bank of America raised their price target on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research report on Monday, July 21st. TD Securities raised their price target on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. 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. Finally, Piper Sandler increased their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.35.

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.