WealthShield Partners LLC Takes $274,000 Position in The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• WealthShield Partners LLC acquired a new position in The Charles Schwab Corporation, purchasing 3,501 shares valued at approximately $274,000 during the first quarter.
• Charles Schwab recently announced a quarterly dividend of $0.27 per share, reflecting a yield of 1.1%, with an annual payout expected to total $1.08.
• The stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $99.35 following various upgrades from different equity research firms.

WealthShield Partners LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,501 shares of the financial services provider's stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. raised its stake in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after buying an additional 150 shares during the period. WFA Asset Management Corp acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC boosted its stake in shares of Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after acquiring an additional 220 shares during the period. Finally, Beacon Capital Management LLC increased its holdings in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after acquiring an additional 169 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup upped their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. Morgan Stanley upped their price target 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. UBS Group increased their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, JMP Securities increased their target price 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.35.

Charles Schwab Price Performance

NYSE:SCHW traded up $1.06 on Friday, hitting $97.05. The company had a trading volume of 5,031,212 shares, compared to its average volume of 9,189,867. The Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $176.34 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 0.93 and a beta of 0.96. The firm has a 50 day moving average of $92.15 and a two-hundred day moving average of $84.38.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results 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. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The business's quarterly revenue was up 24.8% on a year-over-year basis. On average, research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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 paid 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 is presently 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 purchase up to 11.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,850 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the transaction, the insider owned 15,219 shares in the company, valued at $1,332,727.83. The trade was a 15.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the sale, the insider directly owned 41,188 shares of the company's stock, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,016 shares of company stock worth $29,341,433. 6.30% of the stock is owned by insiders.

Charles Schwab Company 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.