AlphaQuest LLC Has $628,000 Holdings in The Charles Schwab Corporation $SCHW

AlphaQuest LLC lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1,131.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,884 shares of the financial services provider’s stock after buying an additional 6,325 shares during the quarter. AlphaQuest LLC’s holdings in Charles Schwab were worth $628,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after buying an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in Charles Schwab during the 1st quarter valued at $79,605,000. Independent Advisor Alliance increased its holdings in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after purchasing an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.4%

NYSE:SCHW opened at $94.76 on Tuesday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $172.01 billion, a P/E ratio of 22.19, a P/E/G ratio of 0.85 and a beta of 0.97. The stock’s fifty day simple moving average is $94.40 and its 200-day simple moving average is $90.73.

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

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 given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Charles Schwab declared that its board has authorized a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts 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. 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 decreased their price objective on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Raymond James Financial reiterated an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Finally, TD Cowen increased their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,156 shares of company stock worth $6,686,934. Corporate insiders own 6.30% of the company’s stock.

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.