The Charles Schwab Co. (NYSE:SCHW) Shares Sold by GAM Holding AG

GAM Holding AG reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,808 shares of the financial services provider’s stock after selling 16,948 shares during the quarter. Charles Schwab comprises approximately 1.1% of GAM Holding AG’s holdings, making the stock its 22nd largest position. GAM Holding AG’s holdings in Charles Schwab were worth $14,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its holdings in Charles Schwab by 40.9% in the fourth quarter. Venturi Wealth Management LLC now owns 855 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 248 shares during the period. Citizens & Northern Corp raised its holdings in shares of Charles Schwab by 4.8% in the 4th quarter. Citizens & Northern Corp now owns 21,468 shares of the financial services provider’s stock worth $1,589,000 after purchasing an additional 982 shares in the last quarter. Truist Financial Corp lifted its position in shares of Charles Schwab by 3.2% during the 4th quarter. Truist Financial Corp now owns 1,901,708 shares of the financial services provider’s stock valued at $140,745,000 after acquiring an additional 59,361 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Charles Schwab by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 255,449 shares of the financial services provider’s stock valued at $18,906,000 after purchasing an additional 9,578 shares during the last quarter. Finally, 5T Wealth LLC purchased a new stake in Charles Schwab during the fourth quarter valued at about $491,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 502,859 shares of company stock worth $41,161,496. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Piper Sandler increased their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, Citigroup upped their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.56.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $80.32 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50-day simple moving average is $78.03 and its 200-day simple moving average is $72.45. The firm has a market cap of $142.94 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. As a group, research analysts expect that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 33.44%.

About Charles Schwab

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.