GAMMA Investing LLC Raises Stock Holdings in The Charles Schwab Corporation $SCHW

GAMMA Investing LLC grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 18.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 32,253 shares of the financial services provider’s stock after acquiring an additional 5,131 shares during the quarter. GAMMA Investing LLC’s holdings in Charles Schwab were worth $2,943,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. Atwood & Palmer Inc. bought a new position in Charles Schwab during the first quarter valued at $25,000. Westside Investment Management Inc. raised its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Charles Schwab in the 1st quarter valued at about $31,000. Finally, Activest Wealth Management grew its position in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SCHW. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and boosted their target price for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Truist Financial raised their price target on Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Bank of America boosted their price objective on shares of Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research report on Monday, July 21st. Sixteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the completion of the transaction, the insider directly owned 37,983 shares in the company, valued at approximately $3,615,981.60. The trade was a 7.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,213 shares of company stock valued at $26,232,180 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW opened at $94.27 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s 50 day moving average price is $95.42 and its 200-day moving average price is $87.41. The Charles Schwab Corporation has a 52-week low of $62.41 and a 52-week high of $99.59. The company has a market cap of $171.12 billion, a PE ratio of 25.34, a P/E/G ratio of 0.93 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

Charles Schwab announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Charles Schwab Profile

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.