Viawealth LLC Has $379,000 Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Posted by Defense World Staff on Sep 9th, 2023

Viawealth LLC lifted its stake in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 48.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,240 shares of the financial services provider’s stock after acquiring an additional 2,375 shares during the period. Viawealth LLC’s holdings in Charles Schwab were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Geode Capital Management LLC boosted its stake in Charles Schwab by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 26,658,930 shares of the financial services provider’s stock worth $2,215,792,000 after buying an additional 606,423 shares in the last quarter. Morgan Stanley boosted its stake in shares of Charles Schwab by 62.5% in the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after purchasing an additional 8,563,389 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Charles Schwab by 107.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,784,516 shares of the financial services provider’s stock valued at $1,399,817,000 after purchasing an additional 8,680,289 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Charles Schwab by 3.4% in the first quarter. Fisher Asset Management LLC now owns 16,704,631 shares of the financial services provider’s stock valued at $874,989,000 after buying an additional 545,595 shares during the last quarter. Finally, Flossbach Von Storch AG raised its holdings in shares of Charles Schwab by 48.7% in the first quarter. Flossbach Von Storch AG now owns 16,619,849 shares of the financial services provider’s stock valued at $870,548,000 after buying an additional 5,445,011 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total transaction of $476,880.00. Following the completion of the transaction, the general counsel now owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Charles Schwab news, Director Charles A. Ruffel purchased 833 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $60.55 per share, for a total transaction of $50,438.15. Following the purchase, the director now owns 3,386 shares in the company, valued at $205,022.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 8,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total value of $476,880.00. Following the completion of the sale, the general counsel now owns 8,014 shares in the company, valued at approximately $477,714.54. The disclosure for this sale can be found here. Insiders sold a total of 155,807 shares of company stock valued at $10,325,149 in the last quarter. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $59.30 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a 50 day simple moving average of $61.44 and a 200 day simple moving average of $58.09. The Charles Schwab Co. has a 52-week low of $45.00 and a 52-week high of $86.63. The firm has a market capitalization of $104.97 billion, a PE ratio of 17.29, a P/E/G ratio of 1.95 and a beta of 0.92.

Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. The business’s revenue was down 8.6% on a year-over-year basis. Sell-side analysts predict that The Charles Schwab Co. will post 3.27 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, August 10th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.15%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SCHW. The Goldman Sachs Group lifted their price target on Charles Schwab from $71.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Bank of America boosted their price objective on Charles Schwab from $46.00 to $53.00 in a report on Thursday, June 15th. Wolfe Research dropped their price objective on Charles Schwab from $62.00 to $60.00 in a report on Monday, June 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $70.00 to $74.00 in a report on Wednesday, July 19th. Finally, UBS Group boosted their price objective on Charles Schwab from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $72.09.

Check Out Our Latest Report on SCHW

About Charles Schwab

(Free Report)

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. The company operates in two segments, Investor Services and Advisor Services.