Whipplewood Advisors LLC Sells 22,605 Shares of The Charles Schwab Corporation $SCHW

Whipplewood Advisors LLC cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 98.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 471 shares of the financial services provider’s stock after selling 22,605 shares during the quarter. Whipplewood Advisors LLC’s holdings in Charles Schwab were worth $43,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Pine Haven Investment Counsel Inc raised its position in shares of Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares during the period. Principle Wealth Partners LLC raised its position in shares of Charles Schwab by 2.0% in the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 113 shares during the period. Traveka Wealth LLC raised its position in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 117 shares during the period. Leavell Investment Management Inc. raised its position in shares of Charles Schwab by 1.0% in the second quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 118 shares during the period. Finally, Tlwm raised its position in shares of Charles Schwab by 0.7% in the second quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock valued at $1,614,000 after purchasing an additional 120 shares during the period. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Barclays raised their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, TD Cowen raised their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Charles Schwab Price Performance

SCHW stock opened at $94.76 on Tuesday. 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 firm has a market cap 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 company’s 50-day moving average price is $94.40 and its two-hundred day moving average price is $90.73.

Charles Schwab (NYSE:SCHW) last released 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. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the firm earned $0.71 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,156 shares of company stock valued at $6,686,934. 6.30% of the stock is owned by insiders.

Charles Schwab Company 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.