Billionaire Ken Fisher is Selling These 5 Stocks

2. The Charles Schwab Corporation (NYSE:SCHW)

Number of Hedge Fund Holders: 59

The Charles Schwab Corporation (NYSE:SCHW) is a multinational financial services company, headquartered in Texas, providing services including commercial banking, stock brokerage, wealth management, and investment management. 

Billionaire Ken Fisher first acquired a $219,000 stake in The Charles Schwab Corporation (NYSE:SCHW) in Q2 2015, which he sold in the next quarter. He then purchased 2,801 shares of The Charles Schwab Corporation (NYSE:SCHW) in Q2 2021, worth $204,000, which he sold off in the third quarter of 2021 entirely. 

The Charles Schwab Corporation (NYSE:SCHW) posted its Q4 2021 results on January 18. The company announced earnings per share of $0.86, missing estimates by $0.02. Revenue for the quarter totaled $4.71 billion, up 12.74% on a year-over-year basis, but missed estimates by $79.07 million. The stock slid 5.3% after the Q4 results missed market consensus estimates. 

On January 21, Argus analyst Stephen Biggar raised the price target on The Charles Schwab Corporation (NYSE:SCHW) to $100 from $90 and kept a Buy rating on the shares. While the company missed on Q4 earnings, its revenues rose 13%, led by growth in asset management fees, net interest income, and trading revenues, the analyst tells investors in a research note. 

According to Insider Monkey’s Q3 data, 59 hedge funds were bullish on The Charles Schwab Corporation (NYSE:SCHW), down from 72 funds in the preceding quarter. John Armitage’s Egerton Capital Limited is the biggest stakeholder of the company, with a position worth over $1 billion.  

Here is what Baron Asset Fund has to say about The Charles Schwab Corporation (NYSE:SCHW) in its Q4 2021 investor letter:

“The Fund’s Financials holdings appreciated by double-digit percentages, with online brokerage firm The Charles Schwab Corp. Schwab’s stock was up as the company’s continued success attracting new customers to its platform resulted in mid-single-digit organic revenue growth and more than $7.5 trillion in assets.”