The Charles Schwab Co. (NYSE:SCHW) Holdings Lifted by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,595 shares of the financial services provider’s stock after acquiring an additional 552 shares during the period. Charles Schwab comprises about 1.1% of Redmont Wealth Advisors LLC’s holdings, making the stock its 29th largest holding. Redmont Wealth Advisors LLC’s holdings in Charles Schwab were worth $766,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC grew its stake in Charles Schwab by 60.0% in 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. Frazier Financial Advisors LLC bought a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab in the fourth quarter worth approximately $31,000. Tributary Capital Management LLC bought a new position in Charles Schwab during the first quarter valued at approximately $31,000. Finally, Hall Laurie J Trustee acquired a new stake in Charles Schwab in the fourth quarter valued at approximately $34,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCHW has been the subject of a number of recent research reports. Piper Sandler upped their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their price target on Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a research note on Tuesday, May 28th. Bank of America upped their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $76.00 price target on shares of Charles Schwab in a research report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $75.56.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, insider Nigel J. Murtagh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total value of $724,000.00. Following the transaction, the insider now directly owns 71,446 shares in the company, valued at $5,172,690.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the sale, the insider now directly owns 121,666 shares in the company, valued at $8,630,986.04. The disclosure for this sale can be found here. Insiders have sold 658,663 shares of company stock valued at $48,997,146 in the last 90 days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

Shares of SCHW traded down $0.07 during trading hours on Wednesday, reaching $74.08. 2,502,054 shares of the company traded hands, compared to its average volume of 7,276,618. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The stock has a market cap of $131.66 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 1.14 and a beta of 0.99. The stock’s fifty day moving average is $74.38 and its 200 day moving average is $69.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Equities research analysts anticipate that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.