AlphaCore Capital LLC Takes $250,000 Position in The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• AlphaCore Capital LLC acquired a new stake in The Charles Schwab Corporation, purchasing 3,192 shares valued at approximately $250,000 during the 1st quarter.
• Analysts have mixed ratings on Charles Schwab's stock, with sixteen analysts giving a "buy" rating and a consensus price target of $99.35.
• Charles Schwab announced a $20 billion share repurchase program and will pay a quarterly dividend of $0.27, reflecting a 1.1% dividend yield.

AlphaCore Capital LLC bought a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,192 shares of the financial services provider's stock, valued at approximately $250,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Covestor Ltd increased its holdings in shares of Charles Schwab by 37.4% in the fourth quarter. Covestor Ltd now owns 1,278 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 348 shares in the last quarter. Townsquare Capital LLC grew its holdings in Charles Schwab by 2.3% during the 4th quarter. Townsquare Capital LLC now owns 61,886 shares of the financial services provider's stock worth $4,580,000 after acquiring an additional 1,373 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in Charles Schwab during the 4th quarter worth $467,000. Finally, Advisors Capital Management LLC grew its holdings in Charles Schwab by 17.7% during the 4th quarter. Advisors Capital Management LLC now owns 116,336 shares of the financial services provider's stock worth $8,610,000 after acquiring an additional 17,483 shares during the period. Institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

SCHW has been the subject of a number of analyst reports. TD Securities lifted their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. JMP Securities boosted their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. Bank of America boosted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $99.35.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the firm'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 owned 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the sale, the insider owned 41,188 shares in the company, valued at $3,956,519.28. This represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 308,016 shares of company stock valued at $29,341,433. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

Shares of NYSE SCHW traded down $3.06 during trading hours on Wednesday, hitting $95.63. 12,455,199 shares of the stock were exchanged, compared to its average volume of 10,065,918. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.55. The company has a market cap of $173.76 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The company's fifty day simple moving average is $92.56 and its two-hundred day simple moving average is $84.61. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the business posted $0.73 EPS. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.27 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab declared that its board has initiated a stock buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in 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 typically a sign that the company's board believes its shares are undervalued.

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.