Texas Yale Capital Corp. Sells 784 Shares of The Charles Schwab Corporation $SCHW

Texas Yale Capital Corp. decreased its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,715 shares of the financial services provider’s stock after selling 784 shares during the quarter. Texas Yale Capital Corp.’s holdings in Charles Schwab were worth $2,255,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab in the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC raised its stake in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Charles Schwab during the 1st quarter valued at $31,000. Finally, Activest Wealth Management lifted its holdings in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.2%

Shares of NYSE:SCHW opened at $95.33 on Friday. The stock has a 50 day moving average of $94.03 and a 200 day moving average of $91.76. The company has a market cap of $173.05 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results 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 business 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%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s payout ratio is 25.29%.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 65,866 shares of company stock valued at $6,370,897. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. TD Cowen upped their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Barclays raised their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

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.