Belpointe Asset Management LLC Decreases Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Belpointe Asset Management LLC has reduced its holdings in The Charles Schwab Corporation by 49.6%, leaving it with 5,721 shares valued at approximately $448,000.
• Charles Schwab recently announced a $20 billion share buyback program, indicating management's belief that the company's stock is undervalued.
• The company reported $1.14 earnings per share for the last quarter, surpassing analysts' expectations and showing a 24.8% increase in revenue year-over-year.

Belpointe Asset Management LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 49.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,721 shares of the financial services provider's stock after selling 5,633 shares during the quarter. Belpointe Asset Management LLC's holdings in Charles Schwab were worth $448,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the 1st quarter valued at about $25,000. Westside Investment Management Inc. raised its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after buying an additional 150 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the 1st quarter valued at about $31,000. Activest Wealth Management raised 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 buying an additional 399 shares in the last quarter. Finally, WFA Asset Management Corp purchased a new stake in Charles Schwab in the 1st quarter worth about $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of SCHW opened at $93.50 on Monday. The company has a market cap of $169.72 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The Charles Schwab Corporation has a twelve month low of $61.81 and a twelve month high of $99.59. 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 company has a 50 day moving average of $95.41 and a two-hundred day moving average of $86.87.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share 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 the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. Charles Schwab's revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share. As a group, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has initiated a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 298,214 shares of company stock valued at $29,022,580. Corporate insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent analyst reports. Raymond James Financial reissued an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. Truist Financial increased their price objective on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Finally, William Blair lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $99.60.

About Charles Schwab

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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