GC Wealth Management RIA LLC Sells 4,847 Shares of The Charles Schwab Co. (NYSE:SCHW)

GC Wealth Management RIA LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 49.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,921 shares of the financial services provider’s stock after selling 4,847 shares during the period. GC Wealth Management RIA LLC’s holdings in Charles Schwab were worth $364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Charles Schwab in the 3rd quarter valued at $25,000. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab during the 3rd quarter worth about $31,000. Planning Capital Management Corp purchased a new position in shares of Charles Schwab during the 3rd quarter worth about $33,000. Peterson Financial Group Inc. purchased a new position in shares of Charles Schwab during the 3rd quarter worth about $35,000. Finally, Financial Life Planners purchased a new position in shares of Charles Schwab during the 4th quarter worth about $46,000. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on 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 filing with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 501,087 shares of company stock valued at $40,952,233 in the last ninety days. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several research reports. Truist Financial boosted their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Redburn Partners reduced their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. UBS Group boosted their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Stock Up 1.9 %

SCHW stock opened at $72.58 on Wednesday. The firm’s fifty day simple moving average is $78.42 and its 200-day simple moving average is $74.16. The company has a market capitalization of $131.63 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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 business 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 business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is 36.12%.

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.