Soltis Investment Advisors LLC Makes New $426,000 Investment in The Charles Schwab Corporation $SCHW

Soltis Investment Advisors LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,673 shares of the financial services provider’s stock, valued at approximately $426,000.

Several other hedge funds have also recently added to or reduced their stakes in SCHW. Vanguard Personalized Indexing Management LLC boosted its position in Charles Schwab by 26.8% during 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 purchasing an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC acquired a new position in shares of Charles Schwab during the first quarter worth about $79,605,000. Independent Advisor Alliance lifted its stake in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after buying an additional 68,858 shares during the period. Finally, PFG Investments LLC grew its stake in shares of Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after buying an additional 550 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $95.33 on Friday. The business has a 50 day moving average of $94.03 and a two-hundred day moving average of $91.76. The company has a market cap of $173.05 billion, a P/E ratio of 22.33, a PEG ratio of 0.85 and a beta of 1.02. 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 Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. Charles Schwab’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has authorized a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is currently 25.29%.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. Morgan Stanley boosted their price target on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued 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 $106.45.

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.