GPM Growth Investors Inc. Sells 311 Shares of The Charles Schwab Co. (NYSE:SCHW)

GPM Growth Investors Inc. lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,419 shares of the financial services provider’s stock after selling 311 shares during the period. Charles Schwab makes up 1.5% of GPM Growth Investors Inc.’s portfolio, making the stock its 29th biggest position. GPM Growth Investors Inc.’s holdings in Charles Schwab were worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SCHW. Massachusetts Financial Services Co. MA increased its holdings in shares of Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after acquiring an additional 6,195,934 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Charles Schwab by 186.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after purchasing an additional 4,624,302 shares in the last quarter. Van ECK Associates Corp raised its holdings in Charles Schwab by 134.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after buying an additional 3,038,517 shares during the period. Lazard Asset Management LLC lifted its stake in Charles Schwab by 31.1% in the third quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock valued at $397,877,000 after buying an additional 1,717,137 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Charles Schwab by 3,123.9% in the third quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock valued at $74,686,000 after buying an additional 1,318,203 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the transaction, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the transaction, the director now owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 71,226 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the sale, the chairman now directly owns 61,251,038 shares in the company, valued at $3,980,704,959.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 394,648 shares of company stock valued at $27,400,905. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

NYSE SCHW traded down $0.79 on Tuesday, hitting $73.77. 2,992,134 shares of the company’s stock were exchanged, compared to its average volume of 7,648,960. The stock has a 50-day moving average of $69.89 and a 200-day moving average of $64.17. The stock has a market cap of $131.02 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The Charles Schwab Co. has a 52 week low of $45.65 and a 52 week high of $75.55.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.25 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SCHW shares. Piper Sandler boosted their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Barclays lifted their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley increased their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.47.

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.