Alliance Wealth Advisors LLC Raises Stock Position in The Charles Schwab Corporation $SCHW

Alliance Wealth Advisors LLC raised its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SCHW. Vanguard Group Inc. raised its stake in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares during the period. Wellington Management Group LLP grew its holdings in Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after buying an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after buying an additional 9,749,728 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Charles Schwab in the first quarter worth $440,699,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,923 shares of company stock worth $25,932,955 over the last three months. 6.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SCHW. Bank of America lifted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a report on Monday, July 21st. Piper Sandler upped their price objective on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Barclays boosted their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Charles Schwab Stock Performance

NYSE:SCHW opened at $96.74 on Tuesday. The firm has a market capitalization of $175.60 billion, a PE ratio of 26.01, a PEG ratio of 0.94 and a beta of 0.96. The stock’s fifty day moving average is $95.56 and its 200 day moving average is $88.28. The Charles Schwab Corporation has a fifty-two week low of $62.41 and a fifty-two week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued 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 dividend payout ratio is presently 29.03%.

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.