Redmont Wealth Advisors LLC Sells 1,700 Shares of The Charles Schwab Co. (NYSE:SCHW)

Redmont Wealth Advisors LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,043 shares of the financial services provider’s stock after selling 1,700 shares during the period. Redmont Wealth Advisors LLC’s holdings in Charles Schwab were worth $691,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Providence Capital Advisors LLC bought a new position in shares of Charles Schwab during the 3rd quarter valued at about $28,000. Sugarloaf Wealth Management LLC increased its position in shares of Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Worth Asset Management LLC bought a new stake in shares of Charles Schwab during the first quarter worth $32,000. BluePath Capital Management LLC acquired a new stake in shares of Charles Schwab during the third quarter worth $34,000. Finally, Hall Laurie J Trustee bought a new stake in Charles Schwab in the 4th quarter valued at $34,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCHW. Morgan Stanley boosted their price target on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. TD Cowen increased their target price on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.30 during trading on Friday, reaching $73.23. The company’s stock had a trading volume of 4,837,304 shares, compared to its average volume of 7,715,812. The Charles Schwab Co. has a 52 week low of $45.65 and a 52 week high of $73.88. The firm has a market cap of $130.06 billion, a PE ratio of 30.80, a P/E/G ratio of 1.06 and a beta of 1.01. The business’s 50-day moving average price is $68.38 and its 200-day moving average price is $62.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Co. will post 3.43 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling at Charles Schwab

In related news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the sale, the chief financial officer now owns 37,611 shares of the company’s stock, valued at $2,425,533.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the transaction, the chief financial officer now owns 29,611 shares in the company, valued at $1,917,608.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Insiders sold 312,800 shares of company stock valued at $21,081,569 in the last three months. Corporate 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.