Oak Harvest Investment Services Acquires 2,714 Shares of The Charles Schwab Corporation $SCHW

Oak Harvest Investment Services boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 44,666 shares of the financial services provider’s stock after acquiring an additional 2,714 shares during the quarter. Oak Harvest Investment Services’ holdings in Charles Schwab were worth $4,075,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab in the 2nd quarter worth $25,000. RMG Wealth Management LLC purchased a new position in Charles Schwab in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in 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 worth $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at about $31,000. Finally, Activest Wealth Management boosted its holdings in shares of Charles Schwab by 6,650.0% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $95.33 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 Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The firm has a market capitalization of $169.40 billion, a PE ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02. The business’s 50 day moving average price is $94.01 and its 200-day moving average price is $92.25.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on SCHW shares. JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Truist Financial raised their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Morgan Stanley raised their target price on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.45.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 65,866 shares of company stock worth $6,370,897. Insiders own 6.30% of the company’s stock.

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.