Wealthfront Advisers LLC Has $10.76 Million Stake in The Charles Schwab Corporation (NYSE:SCHW)

Wealthfront Advisers LLC grew its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 29.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,427 shares of the financial services provider's stock after buying an additional 31,372 shares during the quarter. Wealthfront Advisers LLC's holdings in Charles Schwab were worth $10,758,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SCHW. Atwood & Palmer Inc. acquired a new stake in Charles Schwab during the 1st quarter valued at approximately $25,000. Westside Investment Management Inc. boosted its stake in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. WFA Asset Management Corp acquired a new position in Charles Schwab during the 1st quarter worth $33,000. Cornerstone Planning Group LLC raised its stake in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SCHW. JMP Securities boosted their price objective on Charles Schwab from $94.00 to $106.00 and gave the company a "market outperform" rating in a report on Monday. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Friday, April 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Charles Schwab from $87.00 to $102.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.60.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 10,176 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the transaction, the insider owned 58,999 shares in the company, valued at $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,905 shares of company stock worth $10,530,833. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded up $1.79 during trading on Thursday, reaching $93.05. The company's stock had a trading volume of 6,241,831 shares, compared to its average volume of 9,469,788. The stock has a 50-day moving average price of $89.04 and a two-hundred day moving average price of $81.76. The stock has a market capitalization of $169.07 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.93. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $93.35.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the prior year, the business earned $0.74 earnings per share. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is 32.73%.

About Charles Schwab

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.