Oliver Luxxe Assets LLC Grows Stake in The Charles Schwab Corporation $SCHW

Oliver Luxxe Assets LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 14.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,774 shares of the financial services provider’s stock after purchasing an additional 8,821 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Charles Schwab were worth $6,623,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dogwood Wealth Management LLC raised its stake in shares of Charles Schwab by 99.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after buying an additional 123 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Charles Schwab in the 1st quarter worth about $29,000. Optima Capital LLC acquired a new stake in Charles Schwab in the 4th quarter valued at about $30,000. McIlrath & Eck LLC increased its holdings in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 189 shares in the last quarter. Finally, Main Street Group LTD acquired a new position in Charles Schwab during the first quarter worth about $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on SCHW shares. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 price target on shares of Charles Schwab in a research report on Wednesday, July 22nd. Wolfe Research reiterated an “outperform” rating and set a $127.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Compass Point initiated coverage on Charles Schwab in a research report on Monday, August 3rd. They set a “buy” rating and a $135.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Finally, Piper Sandler set a $118.00 price objective on Charles Schwab in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.17.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total value of $208,420.00. Following the completion of the sale, the insider owned 11,738 shares in the company, valued at $1,223,216.98. The trade was a 14.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The SEC filing for this sale provides additional information. Insiders sold 363,848 shares of company stock worth $37,874,706 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW opened at $107.55 on Friday. The company has a market capitalization of $187.04 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 0.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $109.05. The company’s 50 day simple moving average is $97.28 and its 200 day simple moving average is $95.66.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, sell-side analysts predict that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio is 23.27%.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.