Avior Wealth Management LLC Buys 18,309 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Avior Wealth Management LLC increased its holdings in The Charles Schwab Corporation by 368.3% during Q2, owning a total of 23,280 shares valued at approximately $2.12 million.
• Analysts have mixed ratings on Charles Schwab, with a consensus rating of "Moderate Buy" and a potential average price target of $100.
• The company declared a quarterly dividend of $0.27 per share, which is part of a broader $20 billion stock repurchase plan that reflects confidence in the stock's valuation.

Avior Wealth Management LLC grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 368.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,280 shares of the financial services provider's stock after acquiring an additional 18,309 shares during the quarter. Avior Wealth Management LLC's holdings in Charles Schwab were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab in the first quarter valued at approximately $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after acquiring an additional 150 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management increased its position in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SCHW shares. Citigroup lifted their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and raised their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, Piper Sandler increased their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Sixteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average price target of $100.00.

Charles Schwab Stock Up 0.8%

Charles Schwab stock opened at $95.52 on Monday. The firm has a 50 day simple moving average of $95.55 and a 200 day simple moving average of $88.14. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 1-year low of $62.41 and a 1-year high of $99.59. The firm has a market capitalization of $173.39 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its 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. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared 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 1.1%. 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 authorized a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the completion of the transaction, the insider directly owned 37,983 shares in the company, valued at approximately $3,615,981.60. This trade represents a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,213 shares of company stock valued at $26,232,180. Company insiders own 6.30% of the company's stock.

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.

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