5 Best Stocks to Buy for an 18 Year Old

4. The Charles Schwab Corporation (NYSE:SCHW)

Number of Hedge Fund Holders: 77

The Charles Schwab Corporation (NYSE:SCHW) provides wealth management and other financial services. On December 12, UBS analyst Brennan Hawken maintained a Buy rating on The Charles Schwab Corporation (NYSE:SCHW) stock and raised the price target to $82 from $72. 

At the end of the third quarter of 2023, 77 hedge funds in the database of Insider Monkey held stakes worth $4.6 billion in The Charles Schwab Corporation (NYSE:SCHW), compared to 88 in the previous quarter worth $4 billion.

In its Q3 2023 investor letter, Weitz Investment Management, an asset management firm, highlighted a few stocks and The Charles Schwab Corporation (NYSE:SCHW) was one of them. Here is what the fund said:

“Lastly, we decided to sell our shares of The Charles Schwab Corporation (NYSE:SCHW) during the first quarter as the regional banking crisis unfolded. The decision effectively locked in Schwab’s negative impact on Fund performance but has no bearing on forward-looking returns. Nevertheless, it is likely Schwab will remain on our detractors list for the balance of 2023.”