The Charles Schwab Co. (NYSE:SCHW) Shares Sold by GPM Growth Investors Inc.

GPM Growth Investors Inc. lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,962 shares of the financial services provider’s stock after selling 1,881 shares during the period. GPM Growth Investors Inc.’s holdings in Charles Schwab were worth $2,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Merit Financial Group LLC raised its holdings in shares of Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares during the period. Synovus Financial Corp increased its stake in Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC acquired a new position in Charles Schwab in the fourth quarter valued at $688,000. Finally, Golden State Equity Partners increased its stake in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 9,108 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Barclays lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Piper Sandler lifted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Redburn Partners lowered their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Finally, Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $76.88 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $78.49 and a 200 day moving average of $73.85. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The firm has a market capitalization of $139.42 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.40%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,200 shares of company stock valued at $40,206,950 in the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.