Donoghue Forlines LLC Buys Shares of 30,572 The Charles Schwab Corporation $SCHW

Donoghue Forlines LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 30,572 shares of the financial services provider’s stock, valued at approximately $2,789,000.

A number of other institutional investors and hedge funds have also modified their holdings of SCHW. Princeton Global Asset Management LLC purchased a new stake in Charles Schwab during the second quarter worth $25,000. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the 1st quarter worth about $31,000. Finally, Activest Wealth Management grew its stake in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Down 2.4%

Shares of Charles Schwab stock opened at $95.33 on Friday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The business’s fifty day moving average is $94.01 and its two-hundred day moving average is $92.25. 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 firm has a market cap of $169.40 billion, a PE ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has authorized a stock buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding 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 generally a sign that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred 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 directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,866 shares of company stock valued at $6,370,897 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SCHW. The Goldman Sachs Group restated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. BMO Capital Markets began coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Bank of America increased their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Finally, TD Cowen boosted their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $106.45.

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.