Greatmark Investment Partners Inc. Has $26.50 Million Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Greatmark Investment Partners Inc. grew its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 338,582 shares of the financial services provider's stock after acquiring an additional 6,797 shares during the period. Charles Schwab comprises 3.6% of Greatmark Investment Partners Inc.'s holdings, making the stock its 5th largest holding. Greatmark Investment Partners Inc.'s holdings in Charles Schwab were worth $26,504,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Atwood & Palmer Inc. bought a new stake in Charles Schwab in the first quarter valued at $25,000. Westside Investment Management Inc. grew its holdings in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after buying an additional 150 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of Charles Schwab during the first quarter valued at about $33,000. Cornerstone Planning Group LLC grew its holdings in shares of Charles Schwab by 90.5% during the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after buying an additional 220 shares during the last quarter. Finally, Beacon Capital Management LLC grew its holdings in shares of Charles Schwab by 53.1% during the first quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SCHW. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Raymond James Financial lifted their price objective on shares of Charles Schwab from $91.00 to $99.00 and gave the company an "outperform" rating in a report on Wednesday. TD Securities lifted their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Truist Financial boosted their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.70.

Charles Schwab Stock Down 1.2%

SCHW opened at $91.96 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $167.09 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 0.97 and a beta of 0.93. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $93.35. The company's 50-day moving average price is $88.53 and its two-hundred day moving average price is $81.45.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Insider Transactions at Charles Schwab

In related news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the sale, the insider owned 58,999 shares in the company, valued at $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,905 shares of company stock valued at $10,530,833. Corporate insiders own 6.30% of the company's stock.

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.

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