Meadow Creek Wealth Advisors LLC Acquires Shares of 2,653 The Charles Schwab Corporation $SCHW

Key Points

• Meadow Creek Wealth Advisors LLC purchased 2,653 shares of Charles Schwab Corporation in Q2, valuing approximately $242,000, highlighting growing interest from institutional investors.
• Charles Schwab reported earnings of $1.31 per share, surpassing analyst expectations, and its revenue increased by 26.6% year-over-year to $6.14 billion.
• The company has authorized a $20 billion share repurchase program, indicating that its leadership believes the stock is undervalued.

Meadow Creek Wealth Advisors LLC bought a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,653 shares of the financial services provider's stock, valued at approximately $242,000.

Several other large investors have also modified their holdings of the stock. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab in the second quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Charles Schwab during the 2nd quarter valued at about $32,000. Westside Investment Management Inc. increased its stake in shares of Charles Schwab by 75.0% during the first 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 during the period. Finally, Hoese & Co LLP increased its position in shares of Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 200 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Up 0.2%

Charles Schwab stock opened at $95.12 on Wednesday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $172.66 billion, a PE ratio of 22.28, a P/E/G ratio of 0.85 and a beta of 0.97. The firm's 50 day moving average price is $94.55 and its two-hundred day moving average price is $89.98.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. Charles Schwab's revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has authorized a share repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's payout ratio is 25.29%.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company's stock, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an "underperform" rating in a research report on Thursday, October 2nd. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an "outperform" rating in a research note on Friday, October 17th. Truist Financial upped their target price on Charles Schwab from $112.00 to $113.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $119.00 to $121.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, TD Cowen raised their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a "buy" rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.00.

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.

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.