Morling Financial Advisors LLC Sells 684 Shares of The Charles Schwab Corporation $SCHW

Morling Financial Advisors LLC lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,386 shares of the financial services provider’s stock after selling 684 shares during the quarter. Morling Financial Advisors LLC’s holdings in Charles Schwab were worth $218,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in shares of Charles Schwab during the second quarter valued at approximately $25,000. RMG Wealth Management LLC purchased a new position in Charles Schwab during the second quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its stake in 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 valued at $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management lifted its stake 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 worth $32,000 after purchasing an additional 399 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 0.4%

SCHW stock opened at $92.32 on Wednesday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The stock has a market capitalization of $164.05 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth 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 firm’s fifty day simple moving average is $94.00 and its two-hundred day simple moving average is $92.64.

Charles Schwab (NYSE:SCHW) last released its 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. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the business earned $0.71 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab announced that its board has initiated a stock repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SCHW shares. BMO Capital Markets started coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Barclays upped their price objective on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insider Transactions at Charles Schwab

In related 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 transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, 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 is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 68,938 shares of company stock worth $6,671,953. 6.30% of the stock is currently owned by company 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.