Gabelli Funds LLC Raises Stock Position in The Charles Schwab Corporation $SCHW

Gabelli Funds LLC raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 184.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 133,437 shares of the financial services provider’s stock after buying an additional 86,557 shares during the quarter. Gabelli Funds LLC’s holdings in Charles Schwab were worth $12,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dogwood Wealth Management LLC grew its holdings in shares of Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 123 shares during the period. Piscataqua Savings Bank acquired a new position in Charles Schwab during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Charles Schwab during the first quarter worth $29,000. Optima Capital LLC purchased a new stake in Charles Schwab during the fourth quarter worth $30,000. Finally, McIlrath & Eck LLC boosted its position in Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 189 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the sale, the insider directly owned 13,738 shares in the company, valued at $1,373,937.38. The trade was a 12.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the transaction, the director directly owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. This represents a 1.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,520 shares of company stock valued at $622,392. Insiders own 6.30% of the company’s stock.

Charles Schwab News Summary

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

Charles Schwab Stock Down 0.1%

Shares of NYSE:SCHW opened at $101.92 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $177.25 billion, a P/E ratio of 18.53, a P/E/G ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $107.50. The stock’s fifty day simple moving average is $93.93 and its 200-day simple moving average is $95.33.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the business posted $1.14 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 6.43 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 23.27%.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.76.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.