Redmont Wealth Advisors LLC Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Redmont Wealth Advisors LLC lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 14.5% in the fourth quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SCHW. Norges Bank acquired a new position in shares of Charles Schwab during the fourth quarter worth $1,325,555,000. Morgan Stanley lifted its holdings in Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after purchasing an additional 8,563,389 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Charles Schwab by 26.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after purchasing an additional 6,195,934 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Charles Schwab by 91,051.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock worth $446,706,000 after purchasing an additional 5,359,307 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Charles Schwab by 186.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after buying an additional 4,624,302 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SCHW shares. Piper Sandler raised their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. TD Cowen lifted their target price on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. The Goldman Sachs Group restated a “neutral” rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.47.

Charles Schwab Trading Up 0.4 %

NYSE:SCHW traded up $0.30 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 12-month low of $45.65 and a 12-month high of $73.88. The stock has a 50 day moving average price of $68.38 and a 200 day moving average price of $62.89. The firm has a market cap of $130.06 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. 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 earnings results on Wednesday, January 17th. The financial services provider reported $0.68 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 company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. Charles Schwab’s revenue for the quarter was down 18.9% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.43 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 71,226 shares of Charles Schwab stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the transaction, the chairman now owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,800 shares of company stock valued at $21,081,569. Company insiders own 6.60% of the company’s stock.

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.