Octavia Wealth Advisors LLC Sells 582 Shares of The Charles Schwab Corporation $SCHW

Octavia Wealth Advisors LLC lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,692 shares of the financial services provider’s stock after selling 582 shares during the period. Octavia Wealth Advisors LLC’s holdings in Charles Schwab were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in Charles Schwab during the first quarter worth about $25,000. Westside Investment Management Inc. boosted its holdings in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Charles Schwab by 97.9% during the first 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 bought a new position in Charles Schwab during the first quarter worth about $31,000. Finally, Activest Wealth Management boosted its holdings in 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 own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $92.32 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $167.57 billion, a P/E ratio of 24.82, a P/E/G ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. The stock has a 50 day moving average of $95.52 and a 200-day moving average of $87.63.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 EPS. As a group, equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s payout ratio is 29.03%.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the completion of the sale, the insider owned 37,983 shares of the company’s stock, valued at $3,615,981.60. This trade represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,213 shares of company stock worth $26,232,180 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Piper Sandler lifted their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Truist Financial lifted their price objective on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 15th. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Finally, Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

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.