Alliance Wealth Advisors LLC UT Purchases New Position in The Charles Schwab Corporation $SCHW

Key Points

• Alliance Wealth Advisors LLC UT has acquired over 5,300 shares of The Charles Schwab Corporation, valued at approximately $416,000, indicating increased institutional investment interest in the company.
• The company's quarterly earnings surpassed expectations, with an EPS of $1.14 and revenue of $5.85 billion, reflecting a significant year-over-year growth of 24.8%.
• Charles Schwab has announced a stock buyback plan worth $20 billion, signaling confidence in its stock valuation and willingness to return capital to shareholders.

Alliance Wealth Advisors LLC UT acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,311 shares of the financial services provider's stock, valued at approximately $416,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Sheaff Brock Investment Advisors LLC increased its stake in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after acquiring an additional 129 shares during the last quarter. HM Payson & Co. increased its stake in shares of Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after acquiring an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock worth $513,000 after acquiring an additional 132 shares during the last quarter. Journey Strategic Wealth LLC increased its stake in shares of Charles Schwab by 3.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock worth $351,000 after acquiring an additional 135 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its stake in shares of Charles Schwab by 2.2% in the first quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider's stock worth $485,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. Truist Financial increased their target price on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Barclays raised their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Friday, April 25th. Piper Sandler raised their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial restated an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.60.

Insider Activity

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the transaction, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 250,340 shares of company stock worth $24,250,303. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded up $0.2670 during midday trading on Thursday, reaching $95.7770. The company had a trading volume of 5,002,454 shares, compared to its average volume of 9,992,890. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $173.86 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The stock has a fifty day simple moving average of $93.54 and a 200 day simple moving average of $85.16. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates 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 for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Charles Schwab declared that its board has authorized a stock repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Charles Schwab Company 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.