Octavia Wealth Advisors LLC Increases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Octavia Wealth Advisors LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,427 shares of the financial services provider’s stock after acquiring an additional 628 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Charles Schwab were worth $481,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock valued at $1,281,297,000 after acquiring an additional 292,155 shares during the period. Wellington Management Group LLP grew its position in Charles Schwab by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after acquiring an additional 1,373,223 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,856 shares of company stock worth $6,398,604 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SCHW. Bank of America lowered their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley cut their price target on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Citigroup reduced their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $72.25.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded up $1.03 during trading hours on Friday, reaching $67.68. The company’s stock had a trading volume of 7,332,090 shares, compared to its average volume of 8,015,863. The stock has a market cap of $120.36 billion, a P/E ratio of 28.08, a P/E/G ratio of 1.43 and a beta of 0.97. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The firm has a 50 day moving average price of $64.12 and a 200-day moving average price of $69.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. On average, analysts predict that The Charles Schwab Co. will post 3.07 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.49%.

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.