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

Redmont Wealth Advisors LLC lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,595 shares of the financial services provider’s stock after purchasing an additional 552 shares during the quarter. Charles Schwab accounts for about 1.1% of Redmont Wealth Advisors LLC’s holdings, making the stock its 29th largest holding. Redmont Wealth Advisors LLC’s holdings in Charles Schwab were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Tributary Capital Management LLC purchased a new position in shares of Charles Schwab during the first quarter worth approximately $31,000. Sugarloaf Wealth Management LLC grew its holdings in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Charles Schwab during the fourth quarter valued at about $30,000. Wetzel Investment Advisors Inc. bought a new position in shares of Charles Schwab during the fourth quarter valued at about $31,000. Finally, Hall Laurie J Trustee purchased a new position in shares of Charles Schwab in the fourth quarter worth about $34,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.1 %

Shares of NYSE:SCHW traded down $0.07 on Wednesday, hitting $74.08. 2,502,054 shares of the company traded hands, compared to its average volume of 7,276,618. The company has a market cap of $131.66 billion, a PE ratio of 31.16, a PEG ratio of 1.14 and a beta of 0.99. The stock has a 50 day simple moving average of $74.38 and a 200-day simple moving average of $69.88. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. As a group, research analysts expect that The Charles Schwab Co. will post 3.25 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler raised their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. TD Cowen dropped their target price on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Citigroup boosted their target price on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley upped their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.56.

Insider Activity

In related news, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the sale, the insider now owns 121,666 shares in the company, valued at $8,630,986.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The disclosure for this sale can be found here. Insiders have sold a total of 658,663 shares of company stock valued at $48,997,146 in the last 90 days. 6.60% of the stock is currently owned by insiders.

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.