The Charles Schwab Corporation $SCHW Shares Sold by GW Henssler & Associates Ltd.

Key Points

• GW Henssler & Associates Ltd. reduced its stake in The Charles Schwab Corporation by 3.5%, now holding 273,285 shares valued at approximately $21.39 million.
• The Charles Schwab Corporation reported earnings of $1.14 per share, exceeding estimates, and its revenue for the quarter increased by 24.8% year-over-year to $5.85 billion.
• Charles Schwab announced a stock buyback program of up to $20 billion, allowing the company to repurchase up to 11.6% of its shares, signaling management's belief that shares are undervalued.

GW Henssler & Associates Ltd. lessened its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,285 shares of the financial services provider's stock after selling 9,840 shares during the quarter. Charles Schwab comprises approximately 1.2% of GW Henssler & Associates Ltd.'s holdings, making the stock its 28th biggest holding. GW Henssler & Associates Ltd.'s holdings in Charles Schwab were worth $21,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock valued at $625,000 after acquiring an additional 129 shares in the last quarter. HM Payson & Co. lifted its holdings in shares of Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after acquiring an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Charles Schwab by 2.1% during the 1st quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock valued at $513,000 after acquiring an additional 132 shares in the last quarter. Journey Strategic Wealth LLC lifted its holdings in shares of Charles Schwab by 3.1% during the 1st quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $351,000 after acquiring an additional 135 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its holdings in Charles Schwab by 2.2% in the 1st quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider's stock worth $485,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Down 1.2%

Charles Schwab stock opened at $95.91 on Monday. The firm has a market cap of $174.10 billion, a PE ratio of 25.78, a P/E/G ratio of 0.94 and a beta of 0.96. 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's 50 day moving average price is $94.58 and its two-hundred day moving average price is $85.88. The Charles Schwab Corporation has a twelve month low of $61.16 and a twelve month high of $99.59.

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. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio is 29.03%.

Charles Schwab announced that its board has initiated a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in 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 often an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SCHW shares. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Bank of America boosted their price objective on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research report on Monday, July 21st. Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Morgan Stanley boosted their target price on shares of Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Truist Financial upped their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.60.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the sale, the insider directly owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. This represents a 20.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 295,009 shares of company stock worth $28,717,464 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

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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