Elevation Point Wealth Partners LLC Sells 1,717 Shares of The Charles Schwab Corporation $SCHW

Elevation Point Wealth Partners LLC reduced its position in The Charles Schwab Corporation (NYSE:SCHW) by 4.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 33,526 shares of the financial services provider’s stock after selling 1,717 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Charles Schwab were worth $3,059,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SCHW. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab in the second quarter worth about $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position 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 period. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab during the first quarter worth approximately $31,000. Finally, Activest Wealth Management raised its stake in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.2%

Shares of Charles Schwab stock opened at $91.86 on Thursday. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The business has a 50-day moving average of $93.84 and a two-hundred day moving average of $92.89. The company has a market capitalization of $163.23 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business posted $0.71 EPS. Charles Schwab’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Wall Street Analyst Weigh In

A number of analysts have commented on SCHW shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Cowen restated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. BMO Capital Markets initiated coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Buying and Selling at Charles Schwab

In other news, 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 owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,482 shares of company stock valued at $905,295 in the last three months. 6.30% of the stock is owned by insiders.

Charles Schwab 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.