The Charles Schwab Corporation $SCHW Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 18.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,069 shares of the financial services provider’s stock after selling 1,123 shares during the quarter. Meridian Wealth Management LLC’s holdings in Charles Schwab were worth $462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Princeton Global Asset Management LLC bought a new stake in shares of Charles Schwab during the 2nd quarter worth about $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab during the second quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Charles Schwab during the second quarter worth approximately $32,000. Hoese & Co LLP lifted its position in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its stake in 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 valued at $30,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SCHW. Citigroup boosted their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Truist Financial lifted their target price on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. TD Cowen raised their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Trading Down 2.5%

NYSE:SCHW opened at $92.00 on Tuesday. The stock’s 50-day moving average is $94.03 and its two-hundred day moving average is $92.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market cap of $163.47 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. As a group, equities research 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 approved a share repurchase program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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 dividend of $0.27 per share. 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 payout ratio is currently 25.29%.

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.