Fortitude Family Office LLC Has $36,000 Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Fortitude Family Office LLC increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 43.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 558 shares of the financial services provider’s stock after acquiring an additional 169 shares during the period. Fortitude Family Office LLC’s holdings in Charles Schwab were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Nelson Capital Management LLC boosted its position in Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after buying an additional 141 shares in the last quarter. Abbrea Capital LLC boosted its position in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after buying an additional 142 shares in the last quarter. Alliance Wealth Advisors LLC boosted its position in Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after buying an additional 142 shares in the last quarter. Arcataur Capital Management LLC boosted its position in Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after buying an additional 150 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $71.10 on Thursday. The firm has a market cap of $126.36 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 1.65 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12-month low of $50.30 and a 12-month high of $79.49. The company’s fifty day simple moving average is $66.13 and its 200 day simple moving average is $69.52.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, analysts expect that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Piper Sandler raised their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. 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 note on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.94.

Insider Activity

In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,465 shares of company stock worth $8,050,109. Company insiders own 6.60% of the company’s stock.

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.