Garrett Wealth Advisory Group LLC Takes Position in Charles Schwab Co. (NYSE:SCHW)

Garrett Wealth Advisory Group LLC bought a new stake in shares of Charles Schwab Co. (NYSE:SCHW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,756 shares of the financial services provider’s stock, valued at approximately $115,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Charles Schwab by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 91,211,828 shares of the financial services provider’s stock worth $3,665,804,000 after buying an additional 794,114 shares in the last quarter. BlackRock Inc. lifted its position in Charles Schwab by 3.7% in the second quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock worth $3,499,773,000 after purchasing an additional 3,140,824 shares during the period. Edgewood Management LLC lifted its position in Charles Schwab by 1.2% in the second quarter. Edgewood Management LLC now owns 22,116,063 shares of the financial services provider’s stock worth $888,845,000 after purchasing an additional 256,759 shares during the period. Northern Trust Corp lifted its position in Charles Schwab by 0.6% in the second quarter. Northern Trust Corp now owns 16,812,955 shares of the financial services provider’s stock worth $675,714,000 after purchasing an additional 104,298 shares during the period. Finally, Investec Asset Management LTD lifted its position in Charles Schwab by 31.6% in the second quarter. Investec Asset Management LTD now owns 6,885,579 shares of the financial services provider’s stock worth $276,731,000 after purchasing an additional 1,652,518 shares during the period. 79.07% of the stock is owned by institutional investors.

NYSE SCHW opened at $39.94 on Friday. Charles Schwab Co. has a 1-year low of $34.58 and a 1-year high of $49.24. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $51.57 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 2.51 and a beta of 1.32. The firm’s fifty day simple moving average is $39.66 and its 200-day simple moving average is $41.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Charles Schwab had a net margin of 35.12% and a return on equity of 20.85%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $0.65 earnings per share. Charles Schwab’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts predict that Charles Schwab Co. will post 2.7 EPS for the current year.

SCHW has been the subject of a number of research analyst reports. Wells Fargo & Co restated a “hold” rating on shares of Charles Schwab in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods downgraded Charles Schwab from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $51.00 to $43.50 in a research report on Friday, July 12th. Citigroup upped their target price on Charles Schwab from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday. Compass Point set a $45.00 target price on Charles Schwab and gave the stock a “hold” rating in a research report on Tuesday, July 2nd. Finally, ValuEngine upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.15.

In other Charles Schwab news, Chairman Charles R. Schwab sold 105,422 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.08, for a total transaction of $4,225,313.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $38.97, for a total transaction of $145,747.80. The disclosure for this sale can be found here. Insiders sold 219,677 shares of company stock worth $8,993,241 over the last ninety days. 10.90% of the stock is currently owned by company insiders.

Charles Schwab Profile

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.

See Also: Initial Coin Offering (ICO)

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

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