Trivium Point Advisory LLC Boosts Stock Position in The Charles Schwab Corporation $SCHW

Key Points

• Trivium Point Advisory LLC increased its stake in The Charles Schwab Corporation by 27.2% in Q2, bringing its total holdings to 44,105 shares valued at $4.02 million.
• The company reported $1.14 earnings per share for the latest quarter, exceeding analysts' expectations, and has experienced a revenue increase of 24.8% year-over-year.
• Charles Schwab's board authorized a $20 billion stock buyback plan, indicating confidence in the stock's undervaluation, with the potential to buy back up to 11.6% of its shares.

Trivium Point Advisory LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 27.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,105 shares of the financial services provider's stock after acquiring an additional 9,418 shares during the quarter. Trivium Point Advisory LLC's holdings in Charles Schwab were worth $4,024,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Pine Haven Investment Counsel Inc raised its position in Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock valued at $3,813,000 after purchasing an additional 110 shares in the last quarter. Traveka Wealth LLC raised its position in Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock valued at $259,000 after purchasing an additional 117 shares in the last quarter. Bank of Stockton raised its position in Charles Schwab by 1.2% during the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock valued at $967,000 after purchasing an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in 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 purchasing an additional 129 shares in the last quarter. Finally, HM Payson & Co. raised its position in 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 purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Trading Up 1.3%

Shares of NYSE:SCHW opened at $96.74 on Tuesday. The business's 50-day moving average is $95.56 and its 200 day moving average is $88.28. The Charles Schwab Corporation has a 1 year low of $62.41 and a 1 year high of $99.59. The firm has a market capitalization of $175.60 billion, a P/E ratio of 26.01, 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 current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) 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 firm's quarterly revenue was up 24.8% compared to the same quarter last year. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its board has authorized a stock buyback plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

SCHW has been the subject of a number of research analyst reports. Citigroup lifted their target price on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Raymond James Financial reissued an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price target 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. Barclays boosted their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Bank of America boosted their price target on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,923 shares of company stock worth $25,932,955 over the last ninety days. Corporate insiders own 6.30% of the company's stock.

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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