The Charles Schwab Corporation $SCHW Shares Purchased by Greatmark Investment Partners Inc.

Key Points

• Greatmark Investment Partners Inc. increased its stake in The Charles Schwab Corporation by 1.5%, holding 343,792 shares valued at approximately $31.37 million.
• Insiders of Charles Schwab have sold a total of 267,128 shares worth about $26.23 million in the last 90 days, with key executive sales revealing significant stock divestitures.
• Charles Schwab's quarterly earnings exceeded expectations, reporting $1.31 earnings per share and $6.14 billion in revenue, alongside a recently authorized $20 billion share buyback plan.

Greatmark Investment Partners Inc. lifted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 343,792 shares of the financial services provider's stock after purchasing an additional 5,210 shares during the quarter. Charles Schwab accounts for 3.9% of Greatmark Investment Partners Inc.'s portfolio, making the stock its 6th largest position. Greatmark Investment Partners Inc.'s holdings in Charles Schwab were worth $31,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter valued at $25,000. Westside Investment Management Inc. raised its holdings 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 worth $27,000 after acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in Charles Schwab during the second quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its stake in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the 1st quarter worth about $31,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares of the company's stock, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SCHW. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the company an "overweight" rating in a research report on Monday. Citigroup increased their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. TD Cowen raised their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a "buy" rating in a report on Friday, October 17th. William Blair cut shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, Raymond James Financial restated an "outperform" rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $106.00.

Charles Schwab Trading Up 0.2%

Shares of Charles Schwab stock opened at $95.12 on Wednesday. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company's fifty day simple moving average is $94.55 and its 200-day simple moving average is $89.98. The company has a market cap of $172.66 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 0.85 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.

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 (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business's quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has authorized a share buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in 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 usually an indication that the company's board believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business 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. 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 1.1%. Charles Schwab's dividend payout ratio is presently 25.29%.

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.

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