Independent Advisor Alliance Takes $667,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Independent Advisor Alliance purchased a new position in The Charles Schwab Co. (NYSE:SCHW) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,733 shares of the financial services provider’s stock, valued at approximately $667,000.

Several other hedge funds have also recently bought and sold shares of SCHW. Beacon Capital Management LLC bought a new stake in Charles Schwab during the first quarter valued at about $25,000. Your Advocates Ltd. LLP bought a new stake in Charles Schwab during the first quarter valued at about $25,000. Carolina Wealth Advisors LLC boosted its holdings in Charles Schwab by 54.8% during the first quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in Charles Schwab during the first quarter valued at about $30,000. Finally, Rocky Mountain Advisers LLC boosted its holdings in Charles Schwab by 704.2% during the first quarter. Rocky Mountain Advisers LLC now owns 571 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 500 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

SCHW stock opened at $60.35 on Tuesday. The company has a 50 day moving average price of $61.24 and a 200 day moving average price of $58.39. The stock has a market capitalization of $106.83 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 2.03 and a beta of 0.92. The Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.39.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Charles Schwab had a net margin of 33.15% and a return on equity of 27.54%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. Analysts forecast that The Charles Schwab Co. will post 3.27 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, August 10th. Charles Schwab’s dividend payout ratio (DPR) is 29.15%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group increased their target price on shares of Charles Schwab from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 24th. Argus raised their price target on shares of Charles Schwab from $70.00 to $81.00 in a research note on Wednesday, July 19th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday. Piper Sandler raised their price target on shares of Charles Schwab from $77.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Finally, JMP Securities raised their price target on shares of Charles Schwab from $73.00 to $77.00 in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.09.

Insider Activity

In other news, Chairman Charles R. Schwab sold 72,047 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $66.66, for a total value of $4,802,653.02. Following the completion of the transaction, the chairman now owns 59,748,538 shares of the company’s stock, valued at approximately $3,982,837,543.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Charles Schwab news, Director Charles A. Ruffel acquired 833 shares of Charles Schwab stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $60.55 per share, for a total transaction of $50,438.15. Following the purchase, the director now directly owns 3,386 shares in the company, valued at approximately $205,022.30. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 72,047 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $66.66, for a total transaction of $4,802,653.02. Following the transaction, the chairman now owns 59,748,538 shares of the company’s stock, valued at $3,982,837,543.08. The disclosure for this sale can be found here. Insiders sold 155,807 shares of company stock valued at $10,325,149 in the last quarter. Company insiders own 6.60% of the company’s stock.

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. The company operates in two segments, Investor Services and Advisor Services.