MGO One Seven LLC Has $4.28 Million Position in The Charles Schwab Corporation $SCHW

MGO One Seven LLC cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 8.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,920 shares of the financial services provider's stock after selling 4,239 shares during the quarter. MGO One Seven LLC's holdings in Charles Schwab were worth $4,281,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. RMG Wealth Management LLC acquired a new position in Charles Schwab in the second quarter valued at about $27,000. Westside Investment Management Inc. raised its stake in shares of Charles Schwab by 75.0% in 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 last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of 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 worth $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab in the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management grew its position in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman directly owned 590,734 shares of the company's stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last three months. Insiders own 6.30% of the company's stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $93.50 on Tuesday. The company has a market cap of $169.72 billion, a PE ratio of 25.13, a PEG ratio of 0.89 and a beta of 0.97. 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 Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company's 50-day moving average is $94.90 and its two-hundred day moving average is $89.30.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the previous year, the firm posted $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 anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid 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 is 29.03%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SCHW. William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Barclays reaffirmed an "overweight" rating and issued a $114.00 price target on shares of Charles Schwab in a report on Wednesday, October 8th. Bank of America increased their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an "underperform" rating in a report on Thursday, October 2nd. Piper Sandler boosted their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average price target of $100.57.

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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