The Charles Schwab Corporation $SCHW Shares Acquired by Toth Financial Advisory Corp

Key Points

• Toth Financial Advisory Corp increased its stake in The Charles Schwab Corporation by 531.6%, acquiring an additional 4,625 shares, raising its total holdings to 5,495 shares valued at approximately $501,000.
• Charles Schwab recently announced a $20 billion stock buyback plan, allowing the firm to repurchase up to 11.6% of its shares, signaling management's confidence in the stock's valuation.
• Analysts maintain a consensus rating of "Moderate Buy" for Charles Schwab's stock, with a target price of $100.00, as the company reported strong quarterly earnings exceeding expectations.

Toth Financial Advisory Corp increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 531.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,495 shares of the financial services provider's stock after purchasing an additional 4,625 shares during the quarter. Toth Financial Advisory Corp's holdings in Charles Schwab were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab in the first quarter worth $25,000. Westside Investment Management Inc. grew its stake in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after acquiring an additional 191 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at $31,000. Finally, Activest Wealth Management increased its position in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after purchasing an additional 399 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total transaction of $305,116.00. Following the completion of the transaction, the insider directly owned 37,983 shares in the company, valued at approximately $3,615,981.60. This trade represents a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Trading Up 0.0%

SCHW traded up $0.01 during midday trading on Monday, hitting $94.34. 11,068,868 shares of the company were exchanged, compared to its average volume of 9,536,586. The firm has a market capitalization of $171.25 billion, a P/E ratio of 25.36, a P/E/G ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $62.41 and a 1-year high of $99.59. The firm's 50 day moving average price is $95.46 and its 200-day moving average price is $87.55. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The company 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 revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab's dividend payout ratio is presently 29.03%.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Truist Financial upped their price objective on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a report on Friday, August 15th. Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Finally, Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and boosted their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Sixteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.00.

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.