Forte Capital LLC ADV Buys 261 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Forte Capital LLC ADV lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,966 shares of the financial services provider’s stock after purchasing an additional 261 shares during the quarter. Forte Capital LLC ADV’s holdings in Charles Schwab were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCHW. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab in the 1st quarter worth about $25,000. Westside Investment Management Inc. raised its stake in shares of 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 during the last quarter. WFA Asset Management Corp purchased a new stake in shares of Charles Schwab in the first quarter worth approximately $33,000. Cornerstone Planning Group LLC raised its stake in shares of 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 during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Charles Schwab in the fourth quarter worth approximately $38,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several analyst reports. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Morgan Stanley reiterated an “overweight” rating and issued a $117.00 price objective (up previously from $83.00) on shares of Charles Schwab in a research note on Tuesday. Barclays reiterated an “overweight” rating on shares of Charles Schwab in a research note on Friday. JMP Securities increased their price objective on shares of Charles Schwab from $94.00 to $106.00 and gave the company a “market outperform” rating in a research note on Monday. Finally, Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.60.

Charles Schwab Stock Performance

NYSE SCHW opened at $93.12 on Friday. The company has a 50-day simple moving average of $89.21 and a two-hundred day simple moving average of $81.89. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 12-month low of $61.15 and a 12-month high of $96.93. The firm has a market cap of $169.19 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 0.95 and a beta of 0.93.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. On average, equities analysts forecast 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 was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s payout ratio is currently 32.73%.

Insider Buying and Selling

In related news, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the transaction, the director directly owned 105,654 shares of the company’s stock, valued at $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Craig sold 47,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock valued at $10,530,833 over the last quarter. 6.30% of the stock is currently 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.