Drucker Wealth 3.0 LLC Sells 10,917 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Drucker Wealth 3.0 LLC reduced its stake in The Charles Schwab Corporation by 38.1%, selling 10,917 shares and holding 17,713 shares valued at approximately $1.63 million after the sale.
• Charles Schwab declared a significant $20 billion share buyback plan to repurchase up to 11.6% of its outstanding shares, indicating the board's belief that its shares are undervalued.
• Recent insider sales have seen notable transactions, including 24,096 shares sold by insider Nigel J. Murtagh, reflecting a 29% decrease in his ownership position.

Drucker Wealth 3.0 LLC trimmed its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 38.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,713 shares of the financial services provider's stock after selling 10,917 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Charles Schwab were worth $1,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. lifted its position in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC bought a new stake in Charles Schwab in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its position in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management lifted its position in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last ninety days. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. Truist Financial set a $112.00 price objective on shares of Charles Schwab in a research report on Thursday, October 2nd. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. Raymond James Financial restated an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Charles Schwab in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Charles Schwab presently has a consensus rating of "Moderate Buy" and an average target price of $100.57.

Charles Schwab Trading Down 2.1%

Charles Schwab stock opened at $92.08 on Friday. The company has a market cap of $167.15 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 0.91 and a beta of 0.97. The firm has a 50-day moving average of $94.97 and a 200-day moving average of $89.06. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates 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 for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its Board of Directors has approved a share buyback plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.