Gabelli Funds LLC Has $4.19 Million Position in The Charles Schwab Co. (NYSE:SCHW)

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Gabelli Funds LLC raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,000 shares of the financial services provider’s stock after buying an additional 2,000 shares during the period. Gabelli Funds LLC’s holdings in The Charles Schwab were worth $4,190,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. National Asset Management Inc. lifted its stake in shares of The Charles Schwab by 10.7% in the 4th quarter. National Asset Management Inc. now owns 36,719 shares of the financial services provider’s stock valued at $1,948,000 after purchasing an additional 3,545 shares during the last quarter. Diversified Investment Strategies LLC lifted its stake in shares of The Charles Schwab by 147.9% in the 4th quarter. Diversified Investment Strategies LLC now owns 16,550 shares of the financial services provider’s stock valued at $977,000 after purchasing an additional 9,875 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in shares of The Charles Schwab by 9.8% in the 4th quarter. State of Wisconsin Investment Board now owns 1,602,355 shares of the financial services provider’s stock valued at $84,989,000 after purchasing an additional 142,778 shares during the last quarter. Cooke & Bieler LP lifted its stake in shares of The Charles Schwab by 18.2% in the 3rd quarter. Cooke & Bieler LP now owns 2,895,822 shares of the financial services provider’s stock valued at $104,916,000 after purchasing an additional 445,148 shares during the last quarter. Finally, Fiduciary Trust Co. lifted its stake in shares of The Charles Schwab by 183.1% in the 4th quarter. Fiduciary Trust Co. now owns 18,241 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 11,798 shares during the last quarter. 77.47% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of The Charles Schwab from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, January 20th. Morgan Stanley lifted their target price on shares of The Charles Schwab from $71.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, February 10th. Smith Barney Citigroup upgraded shares of The Charles Schwab from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $54.00 in a report on Tuesday, November 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of The Charles Schwab from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Finally, Bank of America upgraded shares of The Charles Schwab from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $68.00 in a report on Tuesday, January 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $54.92.

In related news, EVP Bernard J. Clark sold 29,976 shares of the company’s stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $60.01, for a total value of $1,798,859.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan M. Craig sold 13,272 shares of the company’s stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $50.35, for a total transaction of $668,245.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,586,205 shares of company stock worth $88,310,828. Insiders own 10.80% of the company’s stock.

NYSE:SCHW opened at $61.91 on Friday. The firm’s 50-day moving average is $56.90 and its 200-day moving average is $45.27. The Charles Schwab Co. has a 52-week low of $28.00 and a 52-week high of $63.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $116.17 billion, a price-to-earnings ratio of 28.66 and a beta of 1.17.

The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The Charles Schwab had a net margin of 29.80% and a return on equity of 13.52%. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue was up 60.2% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Co. will post 2.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 26th. Stockholders of record on Friday, February 12th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $0.72 annualized dividend and a dividend yield of 1.16%. The Charles Schwab’s payout ratio is 26.47%.

About The Charles Schwab

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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