Aviso Wealth Management Purchases 5,263 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• Aviso Wealth Management increased its stake in Charles Schwab by 38.7%, acquiring an additional 5,263 shares, bringing its total holdings to 18,853 shares valued at approximately $1,476,000.
• Insider transactions included significant sales by corporate leaders, with Nigel J. Murtagh selling 24,096 shares worth over $2.35 million and Chairman Walter W. Bettinger selling 173,876 shares valued at about $17.19 million, indicating a decrease in their ownership stakes.
• Charles Schwab recently authorized a $20 billion stock buyback program, signifying confidence from the board in the company’s undervalued stock amidst a commitment to shareholders through a quarterly dividend of $0.27.

Aviso Wealth Management lifted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 38.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,853 shares of the financial services provider's stock after buying an additional 5,263 shares during the quarter. Aviso Wealth Management's holdings in Charles Schwab were worth $1,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sheaff Brock Investment Advisors LLC boosted its position in Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock valued at $625,000 after purchasing an additional 129 shares in the last quarter. HM Payson & Co. boosted its position in Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in Charles Schwab by 2.1% during the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock valued at $513,000 after purchasing an additional 132 shares in the last quarter. Journey Strategic Wealth LLC boosted its position in Charles Schwab by 3.1% during the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 135 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its position in Charles Schwab by 1.8% during the first quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company's stock, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,726 shares of company stock valued at $29,025,396 in the last 90 days. Corporate insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. UBS Group increased their price target on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Truist Financial increased their price target on Charles Schwab from $100.00 to $107.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $99.35.

Charles Schwab Trading Down 2.2%

Shares of NYSE:SCHW opened at $95.57 on Friday. The stock has a market cap of $173.65 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a 52-week low of $61.15 and a 52-week high of $99.59. The business has a 50-day moving average price of $91.28 and a 200-day moving average price of $83.66. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53.

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

Charles Schwab declared that its Board of Directors has approved a share buyback program 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 reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Charles Schwab Dividend Announcement

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

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.

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