The Charles Schwab Corporation $SCHW Stock Position Decreased by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC reduced its stake in Charles Schwab Corporation by 44.7%, leaving them with 12,737 shares valued at approximately $997,000.
• Analysts have varying opinions on Charles Schwab's stock, with ratings ranging from "sell" to "buy" and a consensus price target of $99.60, indicating moderate buy prospects.
• The company recently announced a $20 billion stock repurchase plan, which suggests that its board believes the shares are undervalued.

EverSource Wealth Advisors LLC reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 44.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,737 shares of the financial services provider's stock after selling 10,280 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Charles Schwab were worth $997,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SCHW. Brighton Jones LLC increased its stake in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after purchasing an additional 19,195 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Charles Schwab in the fourth quarter worth $411,000. NewEdge Advisors LLC lifted its position in shares of Charles Schwab by 5.5% in the fourth quarter. NewEdge Advisors LLC now owns 97,764 shares of the financial services provider's stock valued at $7,235,000 after acquiring an additional 5,067 shares in the last quarter. Capital International Investors lifted its position in shares of Charles Schwab by 7.0% in the fourth quarter. Capital International Investors now owns 1,206,172 shares of the financial services provider's stock valued at $89,269,000 after acquiring an additional 79,082 shares in the last quarter. Finally, GeoWealth Management LLC lifted its position in shares of Charles Schwab by 19.8% in the fourth quarter. GeoWealth Management LLC now owns 18,987 shares of the financial services provider's stock valued at $1,405,000 after acquiring an additional 3,134 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 0.3%

SCHW stock traded down $0.3220 during trading on Wednesday, reaching $95.4380. 9,432,184 shares of the stock traded hands, compared to its average volume of 10,024,396. The business's 50 day moving average price is $93.40 and its 200-day moving average price is $85.09. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week 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. The firm has a market capitalization of $173.24 billion, a PE ratio of 25.66, a P/E/G ratio of 0.92 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.64 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The firm's quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a $0.27 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab declared that its Board of Directors has initiated a share repurchase 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 purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an "overweight" rating in a research report on Friday, July 18th. 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 report on Tuesday, July 15th. Truist Financial upped their price objective on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Finally, 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. Sixteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.60.

Insider Buying and Selling

In other news, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider owned 39,154 shares in the company, valued at $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 260,516 shares of company stock worth $25,139,583. 6.30% of the stock is currently owned by insiders.

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.