Belpointe Asset Management LLC Increases Position in The Charles Schwab Corporation $SCHW

Belpointe Asset Management LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 7.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,142 shares of the financial services provider’s stock after buying an additional 421 shares during the period. Belpointe Asset Management LLC’s holdings in Charles Schwab were worth $560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. raised its holdings in shares of 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 last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of 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 buying an additional 191 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the first quarter valued at about $31,000. Activest Wealth Management raised its holdings in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock valued at $36,000 after buying an additional 220 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction that occurred on 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 directly owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,128 shares of company stock valued at $26,232,077. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SCHW shares. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Morgan Stanley cut their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Raymond James Financial reissued an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Finally, Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One equities research 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 a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Charles Schwab Trading Up 0.2%

Shares of SCHW opened at $94.01 on Friday. 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 firm’s 50-day moving average is $95.04 and its two-hundred day moving average is $88.99. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The firm has a market capitalization of $170.65 billion, a P/E ratio of 25.27, a PEG ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued 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. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. 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 business posted $0.73 earnings per share. The firm’s revenue for the quarter 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 announced that its board has approved a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding 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 a sign that the company’s board of directors believes its shares are undervalued.

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 given a $0.27 dividend. 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 currently 29.03%.

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.