Zullo Investment Group Inc. Reduces Holdings in The Charles Schwab Corporation $SCHW

Zullo Investment Group Inc. decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,675 shares of the financial services provider’s stock after selling 241 shares during the period. Zullo Investment Group Inc.’s holdings in Charles Schwab were worth $1,795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Westside Investment Management Inc. increased its stake in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the period. RMG Wealth Management LLC purchased a new stake in Charles Schwab during the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its stake in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab in the 1st quarter worth about $31,000. Finally, Activest Wealth Management increased its position 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 worth $32,000 after purchasing an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 2.1%

NYSE SCHW opened at $92.08 on Friday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a 50-day simple moving average of $94.97 and a 200-day simple moving average of $89.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $167.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was up 24.8% on a year-over-year basis. On average, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab declared that its board has initiated a share 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 generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Bank of America boosted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Citigroup boosted 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. Morgan Stanley dropped their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’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 $1,154,265.63. The trade was a 34.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business’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 $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 over the last three months. 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.