The Charles Schwab Corporation $SCHW Position Decreased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 28,195 shares of the financial services provider’s stock after selling 2,810 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Charles Schwab were worth $2,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab in the second quarter worth about $25,000. Westside Investment Management Inc. boosted its holdings in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the period. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab in the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares during the period. Finally, Stone House Investment Management LLC acquired a new position in shares of Charles Schwab in the first quarter worth about $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 69,156 shares of company stock valued at $6,686,934. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SCHW shares. Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. BMO Capital Markets initiated coverage on shares of Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target for the company. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Finally, William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Stock Down 1.1%

Charles Schwab stock opened at $93.78 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The firm’s fifty day simple moving average is $94.36 and its 200-day simple moving average is $90.87. The company has a market capitalization of $170.23 billion, a P/E ratio of 21.96, a P/E/G ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 26.6% compared to the same quarter last year. Sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has approved a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 25.29%.

About Charles Schwab

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.