Robertson Stephens Wealth Management LLC Has $1.04 Million Holdings in The Charles Schwab Corporation $SCHW

Robertson Stephens Wealth Management LLC boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,391 shares of the financial services provider’s stock after purchasing an additional 384 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Charles Schwab were worth $1,039,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SCHW. RMG Wealth Management LLC bought a new stake in Charles Schwab in the 2nd quarter valued at $27,000. Westside Investment Management Inc. increased 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 valued at $27,000 after buying an additional 150 shares during the period. CBIZ Investment Advisory Services LLC increased 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 valued at $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management increased 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 valued at $32,000 after buying an additional 399 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SCHW shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. BMO Capital Markets started coverage on shares of Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target on the stock. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Morgan Stanley lowered their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Charles Schwab Stock Down 2.1%

Shares of NYSE:SCHW opened at $92.08 on Friday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company’s 50-day moving average price is $94.97 and its two-hundred day moving average price is $89.06. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $167.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.64 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The company’s revenue was up 24.8% on a year-over-year basis. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the 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 owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by 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.