Semmax Financial Advisors Inc. Buys 7,192 Shares of The Charles Schwab Co. (NYSE:SCHW)

Semmax Financial Advisors Inc. boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 14.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,468 shares of the financial services provider’s stock after purchasing an additional 7,192 shares during the period. Charles Schwab comprises 1.3% of Semmax Financial Advisors Inc.’s investment portfolio, making the stock its 26th largest position. Semmax Financial Advisors Inc.’s holdings in Charles Schwab were worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Nelson Capital Management LLC increased its position in Charles Schwab by 0.4% during the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after purchasing an additional 141 shares during the period. Abbrea Capital LLC boosted its position in Charles Schwab by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 142 shares in the last quarter. Ironwood Financial llc grew its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 160 shares during the period. Ascent Wealth Partners LLC raised its position in shares of Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 164 shares in the last quarter. Finally, Sculati Wealth Management LLC lifted its stake in shares of Charles Schwab by 0.4% in the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.7 %

NYSE SCHW opened at $64.95 on Tuesday. The stock’s 50-day moving average price is $64.08 and its 200-day moving average price is $69.93. The company has a market capitalization of $115.43 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the firm earned $0.75 EPS. The company’s revenue was up .7% on a year-over-year basis. On average, equities research analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.54%. Charles Schwab’s payout ratio is 41.84%.

Analysts Set New Price Targets

A number of research firms have issued reports on SCHW. TD Cowen reiterated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Bank of America cut their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. JMP Securities lowered their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $64.00 in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.75.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock valued at $6,457,104 in the last three months. 6.60% of the stock is currently 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.