Avalon Trust Co Sells 1,320 Shares of The Charles Schwab Corporation $SCHW

Avalon Trust Co lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the financial services provider’s stock after selling 1,320 shares during the quarter. Avalon Trust Co’s holdings in Charles Schwab were worth $639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Geode Capital Management LLC boosted its holdings in Charles Schwab by 2.9% during the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after purchasing an additional 1,038,376 shares in the last quarter. Northern Trust Corp grew its stake in shares of Charles Schwab by 10.8% in the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Charles Schwab by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after buying an additional 2,355,309 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated 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 is available in the SEC filing. Insiders have sold a total of 65,866 shares of company stock worth $6,370,897 over the last 90 days. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Truist Financial increased their price objective on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Bank of America upped their target price 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. Finally, Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Price Performance

SCHW opened at $97.71 on Thursday. 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 $173.63 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company’s 50 day simple moving average is $94.06 and its 200-day simple moving average is $92.23. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

About Charles Schwab

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.