Marietta Wealth Management LLC Has $1.39 Million Stake in The Charles Schwab Corporation (SCHW)

Marietta Wealth Management LLC grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 17.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,416 shares of the financial services provider’s stock after acquiring an additional 4,782 shares during the period. Marietta Wealth Management LLC’s holdings in The Charles Schwab Corporation were worth $1,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. WealthTrust Arizona LLC grew its position in shares of The Charles Schwab Corporation by 1.2% in the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 29 shares during the period. YorkBridge Wealth Partners LLC grew its position in shares of The Charles Schwab Corporation by 9.6% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 287 shares during the period. Shine Investment Advisory Services Inc. bought a new position in shares of The Charles Schwab Corporation in the 2nd quarter valued at about $145,000. Founders Capital Management bought a new position in shares of The Charles Schwab Corporation in the 1st quarter valued at about $159,000. Finally, Fiduciary Trust Co. bought a new position in shares of The Charles Schwab Corporation in the 2nd quarter valued at about $163,000. 79.53% of the stock is owned by institutional investors.

The Charles Schwab Corporation (NYSE:SCHW) traded up 0.71% during mid-day trading on Wednesday, reaching $41.33. 1,632,748 shares of the company’s stock were exchanged. The Charles Schwab Corporation has a 52-week low of $29.86 and a 52-week high of $44.10. The company has a 50-day moving average of $40.42 and a 200-day moving average of $40.76. The stock has a market cap of $55.35 billion, a price-to-earnings ratio of 27.74 and a beta of 1.64.

The Charles Schwab Corporation (NYSE:SCHW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. Equities research analysts anticipate that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. The Charles Schwab Corporation’s dividend payout ratio is presently 21.48%.

In other news, EVP Terri R. Kallsen sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $38.99, for a total value of $38,990.00. Following the completion of the transaction, the executive vice president now directly owns 5,212 shares in the company, valued at $203,215.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marie A. Chandoha sold 9,705 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $43.17, for a total transaction of $418,964.85. The disclosure for this sale can be found here. Insiders have sold 925,122 shares of company stock valued at $39,733,977 in the last quarter. Company insiders own 12.00% of the company’s stock.

Several brokerages recently commented on SCHW. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 target price on shares of The Charles Schwab Corporation in a report on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 target price on shares of The Charles Schwab Corporation in a report on Friday, September 15th. BidaskClub raised shares of The Charles Schwab Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday. Barclays PLC began coverage on shares of The Charles Schwab Corporation in a report on Friday, September 8th. They set an “overweight” rating and a $48.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $51.00 target price (up previously from $48.00) on shares of The Charles Schwab Corporation in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The Charles Schwab Corporation currently has an average rating of “Buy” and an average target price of $44.83.

WARNING: This piece of content was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/09/20/marietta-wealth-management-llc-has-1-39-million-stake-in-the-charles-schwab-corporation-schw.html.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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

Receive News & Ratings for The Charles Schwab Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Charles Schwab Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply