Gabelli Funds LLC Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Gabelli Funds LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 5.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,350 shares of the financial services provider’s stock after purchasing an additional 2,850 shares during the quarter. Gabelli Funds LLC’s holdings in Charles Schwab were worth $3,787,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SCHW. Nelson Capital Management LLC grew its stake in Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 141 shares during the period. Abbrea Capital LLC increased its stake in shares of Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 142 shares in the last quarter. Sweet Financial Partners LLC increased its stake in shares of Charles Schwab by 3.5% in the 1st quarter. Sweet Financial Partners LLC now owns 4,430 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 150 shares in the last quarter. Ironwood Financial llc lifted its position in Charles Schwab by 1.6% during the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares during the period. Finally, Sculati Wealth Management LLC boosted its stake in Charles Schwab by 0.4% during the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after acquiring an additional 165 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.36 during midday trading on Friday, reaching $66.60. The stock had a trading volume of 11,168,799 shares, compared to its average volume of 11,492,999. The company has a market capitalization of $118.37 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 1.24 and a beta of 0.99. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The stock has a 50-day moving average of $72.09 and a 200-day moving average of $70.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Co. will post 3.09 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares in the company, valued at approximately $35,134,851.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Richard A. Wurster acquired 10,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The shares were bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the purchase, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 410,084 shares of company stock worth $30,616,734. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of recent research reports. Citigroup increased their target price on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $76.00 to $84.00 in a research note on Monday, July 8th. Piper Sandler upped their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. UBS Group reduced their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.20.

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.