Gradient Investments LLC Purchases 21,599 Shares of Charles Schwab Co. (SCHW)

Gradient Investments LLC lifted its position in shares of Charles Schwab Co. (NYSE:SCHW) by 7,248.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,897 shares of the financial services provider’s stock after buying an additional 21,599 shares during the period. Gradient Investments LLC’s holdings in Charles Schwab were worth $1,076,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. IFG Advisory LLC boosted its position in Charles Schwab by 11.3% during the second quarter. IFG Advisory LLC now owns 10,087 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,026 shares during the last quarter. Gibraltar Capital Management Inc. boosted its position in Charles Schwab by 0.9% during the second quarter. Gibraltar Capital Management Inc. now owns 113,017 shares of the financial services provider’s stock valued at $5,775,000 after purchasing an additional 1,057 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in Charles Schwab by 11.0% during the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 10,806 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 1,068 shares during the last quarter. Bbva Compass Bancshares Inc. boosted its position in Charles Schwab by 8.1% during the second quarter. Bbva Compass Bancshares Inc. now owns 14,972 shares of the financial services provider’s stock valued at $765,000 after purchasing an additional 1,121 shares during the last quarter. Finally, CapWealth Advisors LLC boosted its position in Charles Schwab by 4.3% during the second quarter. CapWealth Advisors LLC now owns 27,970 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 1,161 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

NYSE:SCHW opened at $49.01 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.55. Charles Schwab Co. has a 12-month low of $42.20 and a 12-month high of $60.22.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. Charles Schwab had a return on equity of 17.96% and a net margin of 30.83%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. Equities research analysts predict that Charles Schwab Co. will post 2.43 EPS for the current fiscal year.

SCHW has been the subject of several recent research reports. Morgan Stanley set a $70.00 price target on Charles Schwab and gave the company a “buy” rating in a research report on Tuesday, September 18th. JPMorgan Chase & Co. set a $59.00 price target on Charles Schwab and gave the company a “buy” rating in a research report on Monday, July 16th. Citigroup reduced their price target on Charles Schwab from $49.00 to $48.00 and set a “sell” rating for the company in a research report on Monday, July 23rd. Zacks Investment Research cut Charles Schwab from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of Charles Schwab in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $58.77.

In other Charles Schwab news, Chairman Charles R. Schwab sold 190,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total value of $10,048,875.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christopher V. Dodds sold 15,718 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $51.14, for a total value of $803,818.52. Following the completion of the sale, the director now owns 7,592 shares in the company, valued at approximately $388,254.88. The disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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