Ashton Thomas Private Wealth LLC Cuts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Ashton Thomas Private Wealth LLC cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,043 shares of the financial services provider’s stock after selling 2,155 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Charles Schwab were worth $2,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SCHW. Washington Trust Advisors Inc. increased its stake in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the third quarter worth approximately $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the third quarter worth approximately $31,000. Planning Capital Management Corp purchased a new stake in shares of Charles Schwab during the third quarter worth approximately $33,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Charles Schwab during the third quarter worth approximately $35,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Jefferies Financial Group upped their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Truist Financial upped their price target on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Price Performance

SCHW stock opened at $74.58 on Friday. The company has a market capitalization of $135.25 billion, a P/E ratio of 24.94, a PEG ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The business has a 50 day simple moving average of $78.50 and a 200-day simple moving average of $73.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is 36.12%.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock worth $40,952,233 over the last 90 days. 6.60% of the stock is currently owned by insiders.

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.