Armstrong Henry H Associates Inc. Has $556,000 Stake in The Charles Schwab Corporation $SCHW

Key Points

• Armstrong Henry H Associates Inc. reduced its stake in The Charles Schwab Corporation by 42.5%, holding 6,091 shares worth approximately $556,000 at the end of the recent quarter.
• Charles Schwab reported $1.14 earnings per share (EPS) for the last quarter, surpassing analysts' estimates by $0.04, along with a revenue of $5.85 billion which exceeded expectations.
• The company announced a $20 billion stock buyback plan, indicating that the board believes its stock is undervalued, alongside a quarterly dividend payment of $0.27 per share.

Armstrong Henry H Associates Inc. reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,091 shares of the financial services provider's stock after selling 4,500 shares during the period. Armstrong Henry H Associates Inc.'s holdings in Charles Schwab were worth $556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SCHW. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Charles Schwab by 3.2% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,049 shares of the financial services provider's stock worth $643,000 after acquiring an additional 216 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Charles Schwab during the second quarter worth about $242,000. RDA Financial Network bought a new stake in Charles Schwab during the second quarter worth about $267,000. Michael S. Ryan Inc. raised its holdings in Charles Schwab by 7.3% during the second quarter. Michael S. Ryan Inc. now owns 6,437 shares of the financial services provider's stock worth $587,000 after acquiring an additional 439 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in Charles Schwab by 15.4% during the second quarter. Central Pacific Bank Trust Division now owns 81,917 shares of the financial services provider's stock worth $7,474,000 after acquiring an additional 10,915 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 0.5%

Shares of NYSE:SCHW opened at $93.50 on Friday. The company has a market capitalization of $169.72 billion, a P/E ratio of 25.13, a P/E/G ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a 1 year low of $61.81 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The business's 50 day simple moving average is $95.41 and its 200 day simple moving average is $86.81.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.73 earnings per share. On average, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is presently 29.03%.

Charles Schwab announced that its Board of Directors has approved a stock buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler upped their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Citigroup upped their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Bank of America upped their price objective on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research note on Monday, July 21st. Truist Financial upped their price objective on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Finally, JMP Securities upped their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research note on Monday, July 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.60.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 298,214 shares of company stock worth $29,022,580 in the last ninety days. Insiders own 6.30% of the company's stock.

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.

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