Morling Financial Advisors LLC Makes New $240,000 Investment in The Charles Schwab Corporation (NYSE:SCHW)

Morling Financial Advisors LLC acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,070 shares of the financial services provider's stock, valued at approximately $240,000.

Several other institutional investors have also recently modified their holdings of SCHW. Geode Capital Management LLC raised its stake in Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after purchasing an additional 760,043 shares during the last quarter. Norges Bank acquired a new position in Charles Schwab in the 4th quarter valued at about $1,289,544,000. Northern Trust Corp raised its stake in Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after purchasing an additional 1,864,286 shares during the last quarter. Invesco Ltd. raised its stake in Charles Schwab by 3.0% in the 4th quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider's stock valued at $1,098,497,000 after purchasing an additional 430,250 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Charles Schwab by 27.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,653,684 shares of the financial services provider's stock valued at $862,489,000 after purchasing an additional 2,511,082 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.6%

Shares of Charles Schwab stock traded up $0.55 on Friday, hitting $97.05. 9,105,646 shares of the company's stock traded hands, compared to its average volume of 8,598,255. The stock has a market cap of $176.33 billion, a P/E ratio of 26.09, a PEG ratio of 0.93 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm's 50-day moving average is $90.34 and its 200 day moving average is $82.81. The Charles Schwab Corporation has a 52-week low of $61.15 and a 52-week high of $98.28.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The business's revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

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

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. TD Securities boosted their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Truist Financial upped their price objective on shares of Charles Schwab from $100.00 to $107.00 and gave the company a "buy" rating in a research note on Monday. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research note on Monday. Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $98.65.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the sale, the insider directly owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. This represents a 20.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,313 shares of company stock worth $10,264,091. 6.30% of the stock is currently owned by insiders.

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.