Sandhill Capital Partners LLC Sells 10,601 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Sandhill Capital Partners LLC reduced its holdings in The Charles Schwab Corporation by 1.8% in Q1, bringing its total ownership to 592,615 shares valued at approximately $46.39 million.
• Several notable hedge funds, including Vanguard Group Inc. and Wellington Management Group LLP, increased their stakes in Charles Schwab significantly during the same period, highlighting institutional interest.
• Charles Schwab announced a stock repurchase plan to buy back $20.00 billion in shares, indicating the board's belief in the company’s undervalued stock.

Sandhill Capital Partners LLC trimmed its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 592,615 shares of the financial services provider's stock after selling 10,601 shares during the quarter. Charles Schwab accounts for approximately 3.8% of Sandhill Capital Partners LLC's portfolio, making the stock its 9th largest holding. Sandhill Capital Partners LLC's holdings in Charles Schwab were worth $46,390,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC increased its holdings in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after purchasing an additional 19,195 shares during the last quarter. State of Tennessee Department of Treasury increased its holdings in Charles Schwab by 7.9% during the 4th quarter. State of Tennessee Department of Treasury now owns 560,942 shares of the financial services provider's stock worth $41,515,000 after purchasing an additional 40,997 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Charles Schwab by 16.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 47,591 shares of the financial services provider's stock worth $3,522,000 after purchasing an additional 6,636 shares during the last quarter. J. Safra Sarasin Holding AG purchased a new stake in Charles Schwab during the 4th quarter worth approximately $220,000. Finally, Alta Advisers Ltd increased its holdings in Charles Schwab by 24.3% during the 4th quarter. Alta Advisers Ltd now owns 4,970 shares of the financial services provider's stock worth $368,000 after purchasing an additional 970 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SCHW. Piper Sandler boosted 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. Citigroup lifted their price target on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Friday, April 25th. JMP Securities upped their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research note on Monday, July 21st. Finally, Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Sixteen 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.60.

Charles Schwab Trading Down 0.2%

Shares of NYSE:SCHW traded down $0.1690 during midday trading on Friday, hitting $95.6510. The company had a trading volume of 12,859,422 shares, compared to its average volume of 7,972,781. The firm has a fifty day simple moving average of $93.85 and a 200 day simple moving average of $85.34. 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 stock has a market cap of $173.63 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $61.16 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping 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 return on equity of 19.30% and a net margin of 33.68%.The company's revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. On average, analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab's payout ratio is currently 29.03%.

Charles Schwab declared that its Board of Directors has authorized a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction dated 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 sale, the chairman owned 590,734 shares of the company's stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider directly owned 15,219 shares in the company, valued at approximately $1,332,727.83. This represents a 15.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,340 shares of company stock valued at $24,250,303 in 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.