CMG Global Holdings LLC Has $696,000 Stock Holdings in The Charles Schwab Corporation $SCHW

CMG Global Holdings LLC raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,108 shares of the financial services provider’s stock after buying an additional 513 shares during the quarter. CMG Global Holdings LLC’s holdings in Charles Schwab were worth $696,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SCHW. Brighton Jones LLC grew its holdings in shares of Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Charles Schwab by 28.2% during the 1st quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 5,973 shares in the last quarter. Advisor Resource Council acquired a new stake in shares of Charles Schwab during the 1st quarter worth $951,000. Cullinan Associates Inc. grew its holdings in shares of Charles Schwab by 3.5% during the 1st quarter. Cullinan Associates Inc. now owns 11,900 shares of the financial services provider’s stock worth $932,000 after purchasing an additional 400 shares in the last quarter. Finally, Shum Financial Group Inc. boosted its stake in Charles Schwab by 21.6% in the first quarter. Shum Financial Group Inc. now owns 3,316 shares of the financial services provider’s stock valued at $260,000 after buying an additional 588 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s 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 completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares of the company’s stock, valued at $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 over the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $94.17 on Monday. 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 $170.93 billion, a PE ratio of 22.05, a P/E/G ratio of 0.88 and a beta of 0.97. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The stock has a 50-day moving average price of $94.68 and a two-hundred day moving average price of $89.76.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has initiated a share buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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 was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SCHW shares. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Friday. Truist Financial raised their price objective on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley reduced their price objective on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $104.70.

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.