The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Kohmann Bosshard Financial Services LLC

Key Points

• Kohmann Bosshard Financial Services LLC reduced its shares in The Charles Schwab Corporation (SCHW) by 4.7%, now holding 96,724 shares valued at approximately $7.57 million.
• Charles Schwab recently reported $1.14 EPS for the quarter, surpassing estimates and showing a 24.8% increase in quarterly revenue compared to the previous year.
• The company's Board approved a $20 billion share buyback plan, indicating management's confidence in the company's stock valuation.

Kohmann Bosshard Financial Services LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 96,724 shares of the financial services provider's stock after selling 4,750 shares during the period. Charles Schwab makes up approximately 0.9% of Kohmann Bosshard Financial Services LLC's holdings, making the stock its 22nd largest position. Kohmann Bosshard Financial Services LLC's holdings in Charles Schwab were worth $7,572,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC grew its position in Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after purchasing an additional 129 shares during the period. HM Payson & Co. increased its holdings in Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after buying an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Charles Schwab by 2.1% during the 1st quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock valued at $513,000 after acquiring an additional 132 shares during the period. Journey Strategic Wealth LLC grew its position in shares of Charles Schwab by 3.1% during the 1st quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $351,000 after acquiring an additional 135 shares during the period. Finally, Meridian Wealth Management LLC grew its position in shares of Charles Schwab by 2.2% during the 1st quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider's stock valued at $485,000 after acquiring an additional 136 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 3.1%

Shares of SCHW traded down $3.06 during midday trading on Wednesday, reaching $95.63. The stock had a trading volume of 12,455,199 shares, compared to its average volume of 9,176,303. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59. The company's fifty day simple moving average is $92.72 and its two-hundred day simple moving average is $84.69. The company has a market cap of $173.59 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 0.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company's revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

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 buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Securities boosted their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. William Blair downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Finally, Truist Financial upped their target price on shares of Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $99.35.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders sold a total of 308,016 shares of company stock worth $29,341,433 in the last three months. Company insiders own 6.30% of the company's stock.

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.