Clough Capital Partners L P Cuts Stake in The Charles Schwab Corporation $SCHW

Clough Capital Partners L P lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,966 shares of the financial services provider’s stock after selling 54,572 shares during the period. Charles Schwab makes up about 2.4% of Clough Capital Partners L P’s portfolio, making the stock its 13th biggest holding. Clough Capital Partners L P’s holdings in Charles Schwab were worth $25,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Dogwood Wealth Management LLC boosted its holdings in Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 123 shares in the last quarter. Piscataqua Savings Bank acquired a new stake in Charles Schwab in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in Charles Schwab during the 1st quarter worth approximately $29,000. Optima Capital LLC acquired a new position in Charles Schwab during the 4th quarter valued at approximately $30,000. Finally, McIlrath & Eck LLC increased its stake in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 189 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SCHW. Truist Financial cut their target price on Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Keefe, Bruyette & Woods assumed coverage on Charles Schwab in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.76.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider owned 13,738 shares of the company’s stock, valued at approximately $1,373,937.38. This represents a 12.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the transaction, the director directly owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. The trade was a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is owned by company insiders.

More Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

Charles Schwab Stock Down 0.1%

Charles Schwab stock opened at $101.92 on Monday. The business’s 50-day moving average price is $93.93 and its 200 day moving average price is $95.33. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The firm has a market cap of $177.25 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $107.50.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the business posted $1.14 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 6.43 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 14th. Charles Schwab’s payout ratio is currently 23.27%.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.