Elyxium Wealth LLC Invests $220,000 in The Charles Schwab Corporation $SCHW

Elyxium Wealth LLC bought a new position in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,406 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the second quarter valued at about $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Charles Schwab during the second quarter valued at about $32,000. Hoese & Co LLP grew its position in Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its position in Charles Schwab by 97.9% during 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 period. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of several research reports. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. TD Cowen upped their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Truist Financial upped their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Trading Up 0.7%

Shares of Charles Schwab stock opened at $93.84 on Wednesday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a market cap of $170.33 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 0.85 and a beta of 0.97. 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 company’s 50-day moving average price is $94.16 and its 200-day moving average price is $91.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is currently owned by corporate 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.