Cornell Pochily Investment Advisors Inc. Purchases New Stake in The Charles Schwab Corporation $SCHW

Cornell Pochily Investment Advisors Inc. purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,289 shares of the financial services provider’s stock, valued at approximately $209,000.

Other institutional investors have also added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in Charles Schwab in the 1st quarter worth $25,000. Westside Investment Management Inc. raised its holdings in Charles Schwab by 75.0% in the 1st 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 raised its holdings in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter worth $31,000. Finally, Activest Wealth Management raised its holdings 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 in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $92.75 on Friday. The Charles Schwab Corporation has a one year low of $62.41 and a one year high of $99.59. The company’s 50-day moving average is $95.42 and its 200 day moving average is $88.46. The company has a market capitalization of $168.36 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the firm posted $0.73 EPS. Charles Schwab’s revenue for the quarter was up 24.8% on a year-over-year basis. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 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 buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SCHW. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Truist Financial set a $112.00 price target on shares of Charles Schwab in a research note on Thursday. Barclays increased 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. JMP Securities increased their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Monday, July 21st. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Sixteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.05.

Insider Activity

In other news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction dated 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 sale, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by corporate insiders.

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.