Gabelli Funds LLC Grows Position in The Charles Schwab Corporation $SCHW

Key Points

• Gabelli Funds increased its Charles Schwab position by 184.6% in the first quarter, holding 133,437 shares valued at $12.54 million. Institutional investors collectively own 84.38% of SCHW.
• Wall Street remains broadly bullish, with one Strong Buy, 16 Buy, two Hold and one Sell rating; the consensus is Moderate Buy with a $119.76 price target.
• Charles Schwab exceeded quarterly expectations, reporting $1.62 in EPS and $7.07 billion in revenue, up 20.9% year over year. The company also declared a quarterly dividend of $0.32 per share, while insiders sold 6,520 shares worth $622,392 over the last quarter.

Gabelli Funds LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 184.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,437 shares of the financial services provider's stock after buying an additional 86,557 shares during the period. Gabelli Funds LLC's holdings in Charles Schwab were worth $12,540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. State Street Corp increased its holdings in shares of Charles Schwab by 1.0% in the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider's stock valued at $6,984,231,000 after acquiring an additional 691,671 shares during the period. Geode Capital Management LLC grew its position in Charles Schwab by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider's stock worth $3,747,646,000 after purchasing an additional 98,242 shares during the last quarter. Franklin Resources Inc. grew its position in Charles Schwab by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider's stock worth $3,015,720,000 after purchasing an additional 78,020 shares during the last quarter. Primecap Management Co. CA increased its stake in Charles Schwab by 9.7% in the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider's stock valued at $2,325,512,000 after purchasing an additional 2,066,884 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Charles Schwab by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider's stock valued at $2,179,888,000 after purchasing an additional 171,926 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research reports. Wolfe Research reaffirmed an "outperform" rating and issued a $127.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Jefferies Financial Group dropped their price target on Charles Schwab from $122.00 to $118.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Barclays upped their price objective on Charles Schwab from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Citigroup reaffirmed a "market outperform" rating on shares of Charles Schwab in a research report on Wednesday. Finally, Piper Sandler set a $118.00 target price on Charles Schwab in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $119.76.

Insider Activity at Charles Schwab

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

More Charles Schwab News

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%

SCHW stock opened at $101.92 on Monday. The stock has a market capitalization of $177.25 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The company has a fifty day moving average of $93.93 and a 200-day moving average of $95.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $107.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The business's revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, analysts expect that The Charles Schwab Corporation will post 6.43 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab's payout ratio is currently 23.27%.

Charles Schwab Profile

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.

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