Armstrong Henry H Associates Inc. Cuts Position in The Charles Schwab Corporation $SCHW

Armstrong Henry H Associates Inc. lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 42.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 129 shares during the period. HM Payson & Co. grew its position in shares of Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in 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 in the last quarter. Journey Strategic Wealth LLC grew its position in 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 in the last quarter. Finally, Meridian Wealth Management LLC grew its position in 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 in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.5%

Shares of Charles Schwab stock opened at $93.50 on Friday. The company’s fifty day simple moving average is $95.41 and its 200-day simple moving average is $86.81. The stock has a market capitalization of $169.72 billion, a PE 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.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. 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 payout ratio is currently 29.03%.

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

Analysts Set New Price Targets

Several analysts have issued reports on SCHW shares. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Truist Financial increased their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Bank of America increased their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a research note on Monday, July 21st. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, JMP Securities upped their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.60.

Insider Buying and Selling

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 value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,214 shares of company stock worth $29,022,580 in the last 90 days. 6.30% of the stock is owned by company insiders.

Charles Schwab 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.