LexAurum Advisors LLC Sells 9,224 Shares of The Charles Schwab Corporation $SCHW

Key Points

• LexAurum Advisors LLC reduced its stake in The Charles Schwab Corporation by 66.9%, selling 9,224 shares and leaving it with 4,565 shares valued at approximately $416,000.
• Several institutional investors increased their holdings, with Brighton Jones LLC boosting its stake by a significant 380.5%, now owning 24,240 shares worth about $1.79 million.
• The Charles Schwab Corporation announced a $20 billion stock buyback plan, aimed at repurchasing approximately 11.6% of its outstanding shares, signifying the board's belief in the stock's undervaluation.

LexAurum Advisors LLC decreased its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 66.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,565 shares of the financial services provider's stock after selling 9,224 shares during the period. LexAurum Advisors LLC's holdings in Charles Schwab were worth $416,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after buying an additional 19,195 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Charles Schwab by 17.9% during the 1st quarter. AdvisorNet Financial Inc now owns 967 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 147 shares in the last quarter. NBC Securities Inc. increased its stake in Charles Schwab by 109,827.3% in the first quarter. NBC Securities Inc. now owns 12,092 shares of the financial services provider's stock valued at $946,000 after acquiring an additional 12,081 shares during the period. LVW Advisors LLC acquired a new position in Charles Schwab in the first quarter worth about $209,000. Finally, Baxter Bros Inc. lifted its stake in Charles Schwab by 43.2% during the first quarter. Baxter Bros Inc. now owns 82,494 shares of the financial services provider's stock worth $6,458,000 after purchasing an additional 24,876 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the transaction, the insider owned 37,983 shares of the company's stock, valued at $3,615,981.60. This represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares in the company, 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. Insiders have sold a total of 263,923 shares of company stock valued at $25,932,955 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SCHW shares. Piper Sandler upped their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price target for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Truist Financial increased their price objective on Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Zacks Research downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $100.00.

Charles Schwab Trading Down 1.5%

SCHW opened at $95.45 on Wednesday. The Charles Schwab Corporation has a 1-year low of $62.41 and a 1-year high of $99.59. The stock has a market capitalization of $173.26 billion, a PE ratio of 25.66, a PEG ratio of 0.96 and a beta of 0.96. 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 firm has a 50-day moving average price of $95.56 and a two-hundred day moving average price of $88.33.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analysts' expectations 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 in the prior year, the firm earned $0.73 earnings per share. As a group, equities analysts anticipate 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 authorized a stock buyback 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 purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is 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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