Western Wealth Management LLC Trims Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Western Wealth Management LLC lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 12.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,839 shares of the financial services provider’s stock after selling 1,154 shares during the quarter. Western Wealth Management LLC’s holdings in Charles Schwab were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SCHW. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after acquiring an additional 760,043 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the last quarter. Norges Bank bought a new position in shares of Charles Schwab during the fourth quarter valued at $1,289,544,000. Finally, Northern Trust Corp raised its position in shares of Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock worth $1,164,911,000 after purchasing an additional 1,864,286 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $90.02 on Friday. The company’s 50 day moving average is $86.10 and its 200 day moving average is $80.39. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The company has a market cap of $163.56 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.96 and a beta of 0.94. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $90.86.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter last year, the company posted $0.74 EPS. On average, equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the sale, the insider now directly owns 58,999 shares of the company’s stock, valued at $5,310,499.99. This trade represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,995 shares of company stock worth $10,493,320 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SCHW shares. Piper Sandler increased their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Friday, April 25th. TD Securities increased their target price on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.40.

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.