ORG Wealth Partners LLC Sells 658 Shares of The Charles Schwab Corporation $SCHW

ORG Wealth Partners LLC cut its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 61.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 417 shares of the financial services provider’s stock after selling 658 shares during the quarter. ORG Wealth Partners LLC’s holdings in Charles Schwab were worth $38,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC raised its stake in Charles Schwab by 4.2% during the second quarter. Signaturefd LLC now owns 28,974 shares of the financial services provider’s stock valued at $2,644,000 after purchasing an additional 1,177 shares in the last quarter. First American Bank raised its stake in shares of Charles Schwab by 0.6% during the second quarter. First American Bank now owns 53,139 shares of the financial services provider’s stock worth $4,848,000 after purchasing an additional 297 shares during the last quarter. Old Port Advisors grew its holdings in Charles Schwab by 2.4% in the second quarter. Old Port Advisors now owns 7,659 shares of the financial services provider’s stock valued at $699,000 after purchasing an additional 176 shares during the last quarter. Patton Fund Management Inc. purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $251,000. Finally, Kathmere Capital Management LLC grew its stake in Charles Schwab by 71.1% during the 2nd quarter. Kathmere Capital Management LLC now owns 6,152 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 2,557 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SCHW shares. Morgan Stanley lifted their price objective on Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Citigroup increased their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. JMP Securities lifted their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and upped their price target for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Sixteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Charles Schwab Stock Up 0.8%

SCHW opened at $95.52 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $173.39 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. The business has a 50-day moving average of $95.55 and a two-hundred day moving average of $88.04.

Charles Schwab (NYSE:SCHW) last released its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 was up 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued 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 payout ratio is currently 29.03%.

Charles Schwab declared that its board has approved a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction on 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 directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold a total of 267,213 shares of company stock valued at $26,232,180 in the last three months. Corporate insiders own 6.30% of the company’s stock.

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.