Marietta Wealth Management LLC Boosts Stake in Charles Schwab Co. (SCHW)

Marietta Wealth Management LLC lifted its position in Charles Schwab Co. (NYSE:SCHW) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,424 shares of the financial services provider’s stock after purchasing an additional 1,298 shares during the quarter. Marietta Wealth Management LLC’s holdings in Charles Schwab were worth $1,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. LFA Lugano Financial Advisors SA purchased a new position in shares of Charles Schwab in the 3rd quarter worth about $111,000. Sapphire Star Partners LP purchased a new position in shares of Charles Schwab in the 3rd quarter worth about $123,000. Point72 Hong Kong Ltd purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $134,000. Zions Bancorporation purchased a new position in shares of Charles Schwab in the 3rd quarter worth about $136,000. Finally, Kaizen Advisory LLC boosted its holdings in shares of Charles Schwab by 157.6% in the 2nd quarter. Kaizen Advisory LLC now owns 2,980 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 1,823 shares in the last quarter. Hedge funds and other institutional investors own 80.32% of the company’s stock.

A number of research firms have recently issued reports on SCHW. Morgan Stanley cut their price objective on Charles Schwab from $66.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Raymond James upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a report on Tuesday, October 30th. They noted that the move was a valuation call. UBS Group cut Charles Schwab from a “buy” rating to a “neutral” rating in a report on Monday, November 19th. Deutsche Bank upgraded Charles Schwab from a “hold” rating to a “buy” rating and increased their target price for the company from $52.00 to $54.00 in a report on Tuesday, October 30th. Finally, Wolfe Research assumed coverage on Charles Schwab in a report on Tuesday, September 25th. They set an “underperform” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Charles Schwab has a consensus rating of “Hold” and an average price target of $57.33.

Shares of SCHW stock opened at $44.08 on Friday. The stock has a market cap of $60.59 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.12 and a beta of 1.48. Charles Schwab Co. has a 1-year low of $42.01 and a 1-year high of $60.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.29.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Charles Schwab had a return on equity of 19.02% and a net margin of 32.65%. Charles Schwab’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. As a group, equities research analysts expect that Charles Schwab Co. will post 2.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Thursday, November 8th. Charles Schwab’s payout ratio is 31.71%.

Charles Schwab declared that its board has approved a share repurchase plan on Thursday, October 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 1.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Charles Schwab news, Chairman Charles R. Schwab sold 383,000 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $46.97, for a total transaction of $17,989,510.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan M. Craig sold 2,629 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $48.84, for a total value of $128,400.36. The disclosure for this sale can be found here. Insiders have sold a total of 406,453 shares of company stock valued at $19,107,379 in the last ninety days. 11.50% of the stock is currently owned by corporate insiders.

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About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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