Redmont Wealth Advisors LLC Sells 7,846 Shares of The Charles Schwab Co. (NYSE:SCHW)

Redmont Wealth Advisors LLC reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 90.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848 shares of the financial services provider’s stock after selling 7,846 shares during the period. Redmont Wealth Advisors LLC’s holdings in Charles Schwab were worth $55,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SCHW. Vista Investment Partners LLC purchased a new position in shares of Charles Schwab during the 3rd quarter valued at about $1,322,000. Secure Asset Management LLC grew its stake in shares of Charles Schwab by 20.1% during the third quarter. Secure Asset Management LLC now owns 22,767 shares of the financial services provider’s stock valued at $1,476,000 after buying an additional 3,817 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Charles Schwab by 2.6% during the third quarter. Global Retirement Partners LLC now owns 27,882 shares of the financial services provider’s stock valued at $1,807,000 after buying an additional 703 shares during the last quarter. Good Life Advisors LLC increased its holdings in shares of Charles Schwab by 22.0% in the third quarter. Good Life Advisors LLC now owns 10,496 shares of the financial services provider’s stock worth $680,000 after buying an additional 1,892 shares during the period. Finally, Mezzasalma Advisors LLC boosted its holdings in Charles Schwab by 2.1% during the 3rd quarter. Mezzasalma Advisors LLC now owns 83,549 shares of the financial services provider’s stock valued at $5,415,000 after acquiring an additional 1,755 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $71.90 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a 50 day moving average price of $64.80 and a 200-day moving average price of $69.53. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The firm has a market capitalization of $127.87 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.47 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.49%.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,201 shares of company stock valued at $10,362,224. 6.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on SCHW shares. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday. Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, TD Cowen reaffirmed a “hold” rating and set a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.59.

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.