Alliance Wealth Advisors LLC UT Takes $416,000 Position in The Charles Schwab Corporation (NYSE:SCHW)

Alliance Wealth Advisors LLC UT acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the first quarter, HoldingsChannel reports. The firm acquired 5,311 shares of the financial services provider’s stock, valued at approximately $416,000.

A number of other large investors also recently bought and sold shares of SCHW. Brighton Jones LLC boosted its holdings in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 19,195 shares during the period. CreativeOne Wealth LLC purchased a new position in Charles Schwab during the 4th quarter valued at $411,000. NewEdge Advisors LLC boosted its holdings in Charles Schwab by 5.5% during the 4th quarter. NewEdge Advisors LLC now owns 97,764 shares of the financial services provider’s stock valued at $7,235,000 after acquiring an additional 5,067 shares during the period. Capital International Investors boosted its holdings in Charles Schwab by 7.0% during the 4th quarter. Capital International Investors now owns 1,206,172 shares of the financial services provider’s stock valued at $89,269,000 after acquiring an additional 79,082 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in Charles Schwab by 19.8% during the 4th quarter. GeoWealth Management LLC now owns 18,987 shares of the financial services provider’s stock valued at $1,405,000 after acquiring an additional 3,134 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the transaction, the insider directly owned 39,154 shares in the company, valued at $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,016 shares of company stock valued at $29,341,433. Insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 1.8%

Shares of NYSE:SCHW opened at $96.03 on Friday. The business’s 50-day moving average is $93.09 and its 200 day moving average is $84.91. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59. The firm has a market capitalization of $174.32 billion, a P/E ratio of 25.81, a P/E/G ratio of 0.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.53.

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

Charles Schwab announced that its Board of Directors has approved a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 29.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Securities boosted their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Morgan Stanley upped their target price on Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Truist Financial upped their target price on Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their target price on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, UBS Group upped their target price on Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.60.

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.