GAM Holding AG Sells 7,599 Shares of The Charles Schwab Corporation (NYSE:SCHW)

GAM Holding AG reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,209 shares of the financial services provider's stock after selling 7,599 shares during the quarter. Charles Schwab accounts for approximately 1.2% of GAM Holding AG's investment portfolio, making the stock its 19th biggest holding. GAM Holding AG's holdings in Charles Schwab were worth $15,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Atwood & Palmer Inc. bought a new position in Charles Schwab during the first quarter worth about $25,000. WFA Asset Management Corp acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab during the 4th quarter worth approximately $38,000. Beacon Capital Management LLC increased its holdings in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after acquiring an additional 169 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in Charles Schwab in the 4th quarter valued at $41,000. Institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Craig sold 47,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Insiders have sold 128,609 shares of company stock valued at $11,182,440 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SCHW shares. JMP Securities restated a "market outperform" rating and set a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. Piper Sandler raised their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Truist Financial lifted their price target on Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average price target of $89.40.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded down $0.66 during midday trading on Friday, hitting $89.25. The stock had a trading volume of 12,979,320 shares, compared to its average volume of 9,465,958. The company's 50-day moving average price is $84.81 and its 200-day moving average price is $80.12. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $90.60. 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 company has a market capitalization of $162.16 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate 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 business earned $0.74 earnings per share. As a group, equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. Charles Schwab's dividend payout ratio is currently 32.73%.

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.