Oak Associates Ltd. OH Sells 547 Shares of The Charles Schwab Corporation $SCHW

Oak Associates Ltd. OH decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 0.1% in the first quarter, Holdings Channel.com reports. The firm owned 485,057 shares of the financial services provider’s stock after selling 547 shares during the quarter. Charles Schwab comprises approximately 2.8% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 11th largest position. Oak Associates Ltd. OH’s holdings in Charles Schwab were worth $37,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SCHW. Atwood & Palmer Inc. bought a new position in Charles Schwab in the first quarter worth $25,000. Westside Investment Management Inc. raised its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab in the first quarter worth $31,000. WFA Asset Management Corp bought a new position in Charles Schwab in the first quarter worth $33,000. Finally, Cornerstone Planning Group LLC raised its holdings in Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research reports. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Citigroup raised their price target on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Morgan Stanley raised their price target on Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, 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 report on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.60.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value 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 disclosure for this sale can be found here. Insiders sold 241,693 shares of company stock valued at $23,488,848 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 0.3%

Shares of NYSE:SCHW opened at $96.92 on Thursday. The stock has a market capitalization of $175.94 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 0.96 and a beta of 0.96. 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’s 50-day simple moving average is $94.30 and its two-hundred day simple moving average is $85.63. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59.

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. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. Analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab declared that its board has authorized a share buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.