Ashton Thomas Private Wealth LLC Sells 6,566 Shares of The Charles Schwab Co. (NYSE:SCHW)

Ashton Thomas Private Wealth LLC lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 23.4% during the second quarter, Holdings Channel.com reports. The firm owned 21,468 shares of the financial services provider’s stock after selling 6,566 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Charles Schwab were worth $1,582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Country Trust Bank acquired a new stake in Charles Schwab in the second quarter valued at approximately $26,000. Fortitude Family Office LLC lifted its holdings in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. American Capital Advisory LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at $27,000. CGC Financial Services LLC bought a new stake in Charles Schwab during the 2nd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Charles Schwab during the second quarter worth $29,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent research reports. JMP Securities decreased their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. Morgan Stanley lowered their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, Bank of America cut their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average target price of $74.00.

Charles Schwab Stock Up 0.1 %

Shares of NYSE:SCHW opened at $63.07 on Wednesday. The firm has a market capitalization of $112.17 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97. 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 Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The firm has a fifty day moving average of $66.01 and a 200 day moving average of $70.12.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 18.14% and a net margin of 26.30%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. As a group, research analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued 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 payout ratio is 41.84%.

Insider Activity

In related news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Walter W. Bettinger bought 25,000 shares of the firm’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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,636 shares of company stock valued at $6,533,064. Corporate insiders own 6.60% of the company’s stock.

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.