Noesis Capital Mangement Corp Sells 552 Shares of The Charles Schwab Corporation $SCHW

Noesis Capital Mangement Corp cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 14.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,296 shares of the financial services provider’s stock after selling 552 shares during the period. Noesis Capital Mangement Corp’s holdings in Charles Schwab were worth $301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new position in Charles Schwab in the second quarter worth $25,000. RMG Wealth Management LLC purchased a new position in Charles Schwab in the second quarter worth $27,000. CBIZ Investment Advisory Services LLC grew its position 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 acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab in the first quarter worth $31,000. Finally, Activest Wealth Management grew its position in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCHW. Citigroup upped their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Truist Financial boosted their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One 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. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Stock Performance

Charles Schwab stock opened at $94.59 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $171.70 billion, a PE ratio of 22.15, a P/E/G ratio of 0.84 and a beta of 0.97. The firm has a fifty day simple moving average of $94.34 and a two-hundred day simple moving average of $90.99. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

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

Charles Schwab Announces Dividend

The company also recently disclosed 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%.

Charles Schwab declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider directly owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 69,156 shares of company stock valued at $6,686,934. 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.