Wealth Alliance LLC Purchases 5,425 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Wealth Alliance LLC grew its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 67.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,441 shares of the financial services provider's stock after acquiring an additional 5,425 shares during the quarter. Wealth Alliance LLC's holdings in Charles Schwab were worth $1,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after acquiring an additional 760,043 shares during the period. Norges Bank bought a new stake in shares of Charles Schwab in the fourth quarter valued at about $1,289,544,000. Northern Trust Corp boosted its position in shares of Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after acquiring an additional 1,864,286 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Charles Schwab by 3.0% in the fourth quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider's stock valued at $1,098,497,000 after acquiring an additional 430,250 shares during the period. 84.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the sale, the insider owned 35,864 shares of the company's stock, valued at $3,261,830.80. The trade was a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,313 shares of company stock worth $10,264,091. 6.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. TD Securities upped their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and an average price target of $95.60.

Charles Schwab Trading Up 3.0%

NYSE SCHW opened at $95.87 on Monday. The company's 50-day moving average price is $89.44 and its 200-day moving average price is $82.15. 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 stock has a market cap of $174.19 billion, a PE ratio of 25.77, a PEG ratio of 1.00 and a beta of 0.93. The Charles Schwab Corporation has a 12 month low of $61.15 and a 12 month high of $97.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results 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. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The business had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same period last year, the business earned $0.73 EPS. The company's revenue was up 24.8% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.13%. Charles Schwab's payout ratio is 32.73%.

Charles Schwab 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.

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