The Charles Schwab Co. (NYSE:SCHW) Position Lowered by Sheets Smith Wealth Management

Posted by Defense World Staff on Sep 10th, 2023

Sheets Smith Wealth Management decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 99.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52 shares of the financial services provider’s stock after selling 26,525 shares during the period. Sheets Smith Wealth Management’s holdings in Charles Schwab were worth $1,570,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SCHW. Norges Bank bought a new position in Charles Schwab in the fourth quarter worth about $1,325,555,000. CIBC Private Wealth Group LLC lifted its holdings in Charles Schwab by 107.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 16,784,516 shares of the financial services provider’s stock worth $1,399,817,000 after acquiring an additional 8,680,289 shares during the last quarter. Morgan Stanley lifted its holdings in Charles Schwab by 62.5% in the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after acquiring an additional 8,563,389 shares during the last quarter. Flossbach Von Storch AG lifted its holdings in Charles Schwab by 48.7% in the first quarter. Flossbach Von Storch AG now owns 16,619,849 shares of the financial services provider’s stock worth $870,548,000 after acquiring an additional 5,445,011 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Charles Schwab by 91,051.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock worth $446,706,000 after acquiring an additional 5,359,307 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of recent analyst reports. Bank of America lifted their price target on Charles Schwab from $46.00 to $53.00 in a report on Thursday, June 15th. Barclays lifted their price target on Charles Schwab from $62.00 to $70.00 in a report on Wednesday, July 19th. Morgan Stanley lifted their price target on Charles Schwab from $68.00 to $71.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Citigroup lifted their price target on Charles Schwab from $65.00 to $75.00 in a report on Wednesday, July 19th. Finally, StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Saturday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $72.09.

Get Our Latest Stock Analysis on Charles Schwab

Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the transaction, the general counsel now directly owns 8,014 shares in the company, valued at approximately $477,714.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 75,760 shares of Charles Schwab stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $66.60, for a total transaction of $5,045,616.00. Following the completion of the sale, the chairman now owns 59,672,778 shares of the company’s stock, valued at approximately $3,974,207,014.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 8,000 shares of Charles Schwab stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the sale, the general counsel now directly owns 8,014 shares of the company’s stock, valued at approximately $477,714.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,807 shares of company stock worth $10,325,149. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 2.6 %

Charles Schwab stock opened at $59.33 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $105.03 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. The Charles Schwab Co. has a 1 year low of $45.00 and a 1 year high of $86.63. The firm’s 50 day moving average price is $61.44 and its two-hundred day moving average price is $57.94.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. Charles Schwab had a net margin of 33.15% and a return on equity of 27.54%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, research analysts predict that The Charles Schwab Co. will post 3.27 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.69%. The ex-dividend date was Thursday, August 10th. Charles Schwab’s payout ratio is 29.15%.

Charles Schwab Company Profile

(Free Report)

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. The company operates in two segments, Investor Services and Advisor Services.