Ridgecrest Wealth Partners LLC Purchases 5,930 Shares of The Charles Schwab Corporation $SCHW

Ridgecrest Wealth Partners LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,930 shares of the financial services provider’s stock, valued at approximately $580,000.

Other large investors have also modified their holdings of the company. Sterling Investment Counsel LLC boosted its stake in Charles Schwab by 3.1% during the 3rd quarter. Sterling Investment Counsel LLC now owns 8,412 shares of the financial services provider’s stock valued at $822,000 after purchasing an additional 254 shares during the period. New Wave Wealth Advisors LLC increased its stake in shares of Charles Schwab by 15.8% in the third quarter. New Wave Wealth Advisors LLC now owns 3,341 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 457 shares during the period. Herold Advisors Inc. increased its stake in shares of Charles Schwab by 11.6% in the third quarter. Herold Advisors Inc. now owns 11,054 shares of the financial services provider’s stock valued at $1,080,000 after purchasing an additional 1,149 shares during the period. Kaufman Rossin Wealth LLC bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $232,000. Finally, Clark Wealth Partners raised its holdings in shares of Charles Schwab by 28.1% during the third quarter. Clark Wealth Partners now owns 707 shares of the financial services provider’s stock valued at $69,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 192,488 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $103.90, for a total value of $19,999,503.20. Following the completion of the sale, the chairman owned 529,346 shares in the company, valued at $54,999,049.40. This represents a 26.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 6,952 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total value of $709,312.56. The SEC filing for this sale provides additional information. Insiders sold 645,582 shares of company stock worth $69,553,935 in the last quarter. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock traded down $2.32 during midday trading on Monday, reaching $89.64. 12,503,993 shares of the company were exchanged, compared to its average volume of 10,096,690. The company’s 50 day moving average price is $104.13 and its two-hundred day moving average price is $98.15. The company has a market cap of $155.01 billion, a P/E ratio of 15.30, a PEG ratio of 0.81 and a beta of 0.79. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $114.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.18 billion. During the same period last year, the firm posted $1.31 earnings per share. The business’s revenue was up 16.9% on a year-over-year basis. On average, sell-side analysts expect that The Charles Schwab Corporation will post 6.44 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. Charles Schwab’s dividend payout ratio (DPR) is 21.84%.

Analyst Upgrades and Downgrades

SCHW has been the subject of several analyst reports. Bank of America boosted their price objective on Charles Schwab from $91.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, October 5th. Wells Fargo & Company cut their target price on Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Friday. Barclays cut their target price on Charles Schwab from $118.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday. Argus boosted their price target on Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Truist Financial set a $115.00 price target on Charles Schwab in a research note on Friday. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.82.

Key Stories Impacting Charles Schwab

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

• Positive Sentiment: Schwab recently reported record revenue of approximately $7.17 billion, up 16.9% year over year, while adjusted earnings of $1.69 per share exceeded consensus estimates of $1.66. The results support expectations for continued growth in client assets, trading activity and net interest revenue. Schwab reports record revenue
• Positive Sentiment: Citizens JMP reaffirmed its “market outperform” rating, indicating that the brokerage sees further appreciation potential for SCHW despite recent weakness. Citizens JMP rating
• Positive Sentiment: A bullish Seeking Alpha analysis called Charles Schwab one of its best ideas in financials, highlighting the company’s earnings momentum and long-term positioning. Charles Schwab: One of My Best Ideas in Financials
• Neutral Sentiment: Schwab added an international bond ETF, expanding its investment-product lineup. The move may modestly support asset gathering, but its near-term financial impact is likely limited. Schwab adds an international bond ETF
• Negative Sentiment: Evercore lowered its price target from $107 to $104, while BMO cut its target from $105 to $97 and assigned a “market perform” rating. JPMorgan also reduced its target. The revisions signal more cautious near-term expectations, even though the new targets remain above the recent share price. Evercore price-target change JPMorgan price-target change
• Negative Sentiment: CEO Rick Wurster remains skeptical of autonomous AI agents trading stocks, and Schwab has restricted third-party agents over security and liability concerns. The stance limits near-term AI monetization potential, although it may reduce operational and compliance risks. Schwab CEO discusses AI trading agents

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.