Baron Wealth Management LLC Acquires 310 Shares of The Charles Schwab Corporation $SCHW

Baron Wealth Management LLC raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,951 shares of the financial services provider’s stock after acquiring an additional 310 shares during the quarter. Baron Wealth Management LLC’s holdings in Charles Schwab were worth $360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in Charles Schwab in the first quarter valued at approximately $25,000. Westside Investment Management Inc. raised its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter worth $31,000. Finally, Activest Wealth Management raised its holdings in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 1.2%

Shares of NYSE:SCHW opened at $90.99 on Wednesday. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. 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 company’s fifty day simple moving average is $95.38 and its 200 day simple moving average is $86.99. The firm has a market cap of $165.17 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.91 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $0.73 EPS. The company’s revenue was up 24.8% compared to the same quarter last year. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced 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 repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,213 shares of company stock worth $26,232,180. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

SCHW has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Piper Sandler increased their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Finally, JMP Securities raised their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Charles Schwab Company 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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.