Semmax Financial Advisors Inc. Sells 5,742 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Semmax Financial Advisors Inc. has reduced its holdings in The Charles Schwab Corporation by 8.6%, owning 61,298 shares valued at approximately $5.18 million.
• The Charles Schwab Corporation recently reported earnings of $1.14 per share, surpassing analysts' expectations, and its revenue grew by 24.8% year-over-year.
• The company also announced a substantial stock buyback program, allowing for repurchases of up to $20 billion, indicating potential confidence in its stock valuation.

Semmax Financial Advisors Inc. lessened its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,298 shares of the financial services provider's stock after selling 5,742 shares during the period. Charles Schwab comprises about 1.4% of Semmax Financial Advisors Inc.'s portfolio, making the stock its 19th largest holding. Semmax Financial Advisors Inc.'s holdings in Charles Schwab were worth $5,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab during the 1st quarter worth about $25,000. Westside Investment Management Inc. boosted its holdings 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 during the period. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab during the 1st quarter worth about $31,000. Activest Wealth Management boosted its holdings in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after buying an additional 399 shares during the period. Finally, WFA Asset Management Corp bought a new stake in shares of Charles Schwab during the 1st quarter worth about $33,000. Institutional investors own 84.38% of the company's stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded down $0.44 during midday trading on Friday, hitting $93.50. The stock had a trading volume of 7,701,819 shares, compared to its average volume of 9,938,769. The company's 50-day moving average price is $95.36 and its 200-day moving average price is $86.66. The company has a market capitalization of $169.72 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. 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 Charles Schwab Corporation has a fifty-two week low of $61.81 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS 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 analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 EPS. As a group, equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

Charles Schwab Announces Dividend

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

Insider Buying and Selling at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the transaction, the insider owned 39,154 shares of the company's stock, valued at approximately $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. Insiders sold 298,214 shares of company stock worth $29,022,580 over the last 90 days. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on SCHW shares. TD Securities lifted their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Citigroup lifted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Piper Sandler raised their price objective on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley lifted their price objective on Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.