Frank Rimerman Advisors LLC Acquires 16,232 Shares of The Charles Schwab Co. (NYSE:SCHW)

Frank Rimerman Advisors LLC lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 923.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,990 shares of the financial services provider’s stock after purchasing an additional 16,232 shares during the period. Frank Rimerman Advisors LLC’s holdings in Charles Schwab were worth $1,326,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nelson Capital Management LLC grew its stake in shares of Charles Schwab by 0.4% in the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after buying an additional 141 shares during the period. Abbrea Capital LLC grew its stake in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 142 shares during the period. Ironwood Financial llc increased its holdings in shares of Charles Schwab by 1.6% during the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares in the last quarter. Ascent Wealth Partners LLC raised its position in shares of Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 164 shares during the period. Finally, Sculati Wealth Management LLC lifted its holdings in shares of Charles Schwab by 0.4% in the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent research reports. Wells Fargo & Company began coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. UBS Group decreased their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and cut their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.75.

Charles Schwab Trading Up 1.0 %

NYSE:SCHW opened at $65.39 on Monday. The firm’s 50 day moving average is $64.28 and its 200 day moving average is $69.96. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The stock has a market capitalization of $116.22 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Charles Schwab’s payout ratio is 41.84%.

Insider Activity

In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the sale, the director now owns 567,057 shares in the company, valued at $35,134,851.72. The disclosure for this sale can be found here. Insiders have sold a total of 99,636 shares of company stock valued at $6,457,104 over the last quarter. Company insiders own 6.60% 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.