Ashton Thomas Private Wealth LLC Has $1.58 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Ashton Thomas Private Wealth LLC lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 23.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,468 shares of the financial services provider’s stock after selling 6,566 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Charles Schwab were worth $1,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Country Trust Bank acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $26,000. Fortitude Family Office LLC grew its position in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $27,000. CGC Financial Services LLC bought a new stake in shares of Charles Schwab in the second quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Charles Schwab in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent research reports. Bank of America cut their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. JMP Securities cut their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Barclays cut their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and an average price target of $74.00.

Insider Buying and Selling at Charles Schwab

In related news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,636 shares of company stock worth $6,533,064. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $63.07 on Wednesday. The business has a 50 day moving average of $66.01 and a 200-day moving average of $70.12. The company has a market capitalization of $112.17 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.18 and a beta of 0.97. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. On average, equities research analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Charles Schwab Company 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.