Olistico Wealth LLC Has $237,000 Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Olistico Wealth LLC reduced its holdings in The Charles Schwab Corporation by 51.8% in the second quarter, now owning 2,594 shares valued at $237,000.
• Several institutional investors have increased their positions in Charles Schwab, with Brighton Jones LLC boosting its stake by 380.5% during the fourth quarter.
• Charles Schwab's board approved a $20 billion stock repurchase program, indicating confidence in the company's valuation amid recent insider selling.

Olistico Wealth LLC lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 51.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,594 shares of the financial services provider's stock after selling 2,786 shares during the period. Olistico Wealth LLC's holdings in Charles Schwab were worth $237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Brighton Jones LLC boosted its position in shares of Charles Schwab by 380.5% in 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 during the period. Vest Financial LLC boosted its position in shares of Charles Schwab by 73.5% in the first quarter. Vest Financial LLC now owns 14,845 shares of the financial services provider's stock worth $1,162,000 after buying an additional 6,289 shares during the period. Magnus Financial Group LLC acquired a new stake in Charles Schwab during the first quarter valued at $211,000. Procyon Advisors LLC boosted its position in Charles Schwab by 35.5% during the first quarter. Procyon Advisors LLC now owns 6,567 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 1,719 shares during the last quarter. Finally, DHK Financial Advisors Inc. acquired a new stake in Charles Schwab during the first quarter valued at $202,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. The trade was a 22.74% 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. 6.30% of the stock is owned by insiders.

Charles Schwab Trading Up 1.5%

Shares of SCHW opened at $94.13 on Friday. The Charles Schwab Corporation has a 12-month low of $64.07 and a 12-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 firm has a market capitalization of $170.87 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 0.91 and a beta of 0.97. The stock's 50-day moving average price is $95.37 and its 200 day moving average price is $88.64.

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, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the prior year, the company posted $0.73 EPS. The company's revenue was up 24.8% compared to the same quarter last year. As a group, research analysts predict 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 approved a stock repurchase program 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 repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued 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 payout ratio is presently 29.03%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SCHW. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Raymond James Financial reissued an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Truist Financial set a $112.00 price objective on Charles Schwab in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. Finally, BMO Capital Markets began coverage on Charles Schwab in a research report on Friday. They set an "outperform" rating and a $110.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.52.

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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