Alliance Wealth Advisors LLC Grows Stock Holdings in The Charles Schwab Corporation $SCHW

Alliance Wealth Advisors LLC lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,035 shares of the financial services provider’s stock after acquiring an additional 191 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Charles Schwab were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atwood & Palmer Inc. bought a new stake in Charles Schwab during the 1st quarter valued at $25,000. Westside Investment Management Inc. grew its position in shares of 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 in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC purchased a new position in shares of Charles Schwab during the first quarter valued at $31,000. Finally, Activest Wealth Management raised its holdings in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

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 transaction, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold a total of 263,923 shares of company stock valued at $25,932,955 in the last 90 days. 6.30% of the stock is owned by insiders.

Charles Schwab Trading Up 1.3%

NYSE SCHW opened at $96.74 on Tuesday. The Charles Schwab Corporation has a 52 week low of $62.41 and a 52 week high of $99.59. The company has a 50 day moving average price of $95.56 and a 200 day moving average price of $88.28. 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 firm has a market cap of $175.60 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were 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 was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

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

Analyst Ratings Changes

Several brokerages have issued reports on SCHW. Raymond James Financial reiterated an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Bank of America upped their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a research report on Monday, July 21st. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Truist Financial boosted their price objective on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Finally, William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

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.