MGO One Seven LLC Has $4.28 Million Holdings in The Charles Schwab Corporation $SCHW

MGO One Seven LLC cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,920 shares of the financial services provider’s stock after selling 4,239 shares during the period. MGO One Seven LLC’s holdings in Charles Schwab were worth $4,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Westside Investment Management Inc. increased its stake in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in shares of 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 acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab during the first quarter worth $31,000. Finally, Activest Wealth Management lifted its position in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 1.7%

Shares of Charles Schwab stock opened at $93.50 on Tuesday. The stock has a market cap of $169.72 billion, a P/E ratio of 25.13, a P/E/G ratio of 0.89 and a beta of 0.97. 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 12-month low of $65.88 and a 12-month high of $99.59. The business’s 50 day moving average is $94.90 and its 200-day moving average is $89.30.

Charles Schwab (NYSE:SCHW) last released its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its board has initiated a share repurchase 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 reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

SCHW has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Piper Sandler lifted their target price on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Truist Financial set a $112.00 price target on shares of Charles Schwab in a research note on Thursday, October 2nd. Finally, Barclays reissued an “overweight” rating and issued a $114.00 price objective 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction 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 sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 in the last three months. 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.