Apollon Wealth Management LLC Has $2.48 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

14 Nov 2024, 10:24 by Kim Johansen · The Markets Daily

Apollon Wealth Management LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,218 shares of the financial services provider’s stock after selling 3,283 shares during the period. Apollon Wealth Management LLC’s holdings in Charles Schwab were worth $2,477,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares during the last quarter. Darsana Capital Partners LP lifted its holdings in Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after buying an additional 1,644,931 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Charles Schwab in the 1st quarter valued at $105,563,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Charles Schwab by 231.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock worth $108,433,000 after acquiring an additional 1,046,322 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Up 0.1 %

Shares of SCHW stock opened at $78.27 on Thursday. The Charles Schwab Co. has a 12-month low of $54.24 and a 12-month high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $67.76 and a 200-day moving average of $69.48. The company has a market capitalization of $139.29 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Analyst Ratings Changes

SCHW has been the subject of a number of research reports. Jefferies Financial Group lowered their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Barclays lifted their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average price target of $74.18.

View Our Latest Analysis on SCHW

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,645 shares of company stock valued at $7,440,627 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Profile

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