Robertson Stephens Wealth Management LLC Acquires 698 Shares of The Charles Schwab Co. (NYSE:SCHW)

Robertson Stephens Wealth Management LLC increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,412 shares of the financial services provider’s stock after buying an additional 698 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Charles Schwab were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Providence Capital Advisors LLC bought a new position in Charles Schwab in the 3rd quarter valued at about $28,000. Sugarloaf Wealth Management LLC raised its position in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Charles Schwab during the fourth quarter worth $31,000. BluePath Capital Management LLC acquired a new stake in shares of Charles Schwab in the 3rd quarter valued at $34,000. Finally, Hall Laurie J Trustee bought a new position in shares of Charles Schwab in the 4th quarter valued at $34,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.9 %

Shares of NYSE SCHW opened at $76.04 on Friday. The company’s 50 day moving average price is $70.52 and its 200-day moving average price is $64.48. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $76.47. The company has a market capitalization of $135.05 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the sale, the director now owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the transaction, the insider now owns 81,446 shares in the company, valued at $5,522,038.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the sale, the director now owns 585,057 shares of the company’s stock, valued at $38,198,371.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,459 shares of company stock worth $36,371,155. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America raised their price objective on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Piper Sandler increased their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. increased their price target on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.47.

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.