Cornerstone Wealth Management LLC Acquires 1,040 Shares of The Charles Schwab Co. (NYSE:SCHW)

Cornerstone Wealth Management LLC grew its holdings in The Charles Schwab Co. (NYSE:SCHWFree Report) by 22.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,765 shares of the financial services provider’s stock after acquiring an additional 1,040 shares during the period. Cornerstone Wealth Management LLC’s holdings in Charles Schwab were worth $317,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Signet Financial Management LLC increased its position in Charles Schwab by 0.3% during the fourth quarter. Signet Financial Management LLC now owns 49,378 shares of the financial services provider’s stock worth $4,111,000 after buying an additional 139 shares during the last quarter. Welch & Forbes LLC grew its holdings in Charles Schwab by 2.8% during the second quarter. Welch & Forbes LLC now owns 5,797 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 160 shares during the last quarter. Main Street Financial Solutions LLC grew its holdings in Charles Schwab by 2.6% during the second quarter. Main Street Financial Solutions LLC now owns 6,475 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 162 shares during the last quarter. Investment Advisory Services Inc. TX ADV raised its position in shares of Charles Schwab by 0.5% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 32,642 shares of the financial services provider’s stock valued at $2,718,000 after purchasing an additional 164 shares during the period. Finally, WASHINGTON TRUST Co lifted its stake in shares of Charles Schwab by 6.5% in the second quarter. WASHINGTON TRUST Co now owns 2,772 shares of the financial services provider’s stock worth $157,000 after buying an additional 169 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Charles Schwab Trading Up 0.7 %

Shares of SCHW opened at $64.38 on Wednesday. The stock has a 50 day simple moving average of $64.79 and a 200-day simple moving average of $60.20. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.87. The stock has a market cap of $114.05 billion, a PE ratio of 25.34, a PEG ratio of 3.29 and a beta of 1.01. The Charles Schwab Co. has a 1 year low of $45.00 and a 1 year high of $81.96.

Charles Schwab (NYSE:SCHWGet Free Report) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 22.07% and a net margin of 26.90%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the business earned $1.07 earnings per share. The business’s revenue was down 18.9% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.42 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, February 8th. Charles Schwab’s payout ratio is 39.37%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SCHW. Piper Sandler lowered their price target on Charles Schwab from $86.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, October 9th. Redburn Atlantic initiated coverage on Charles Schwab in a report on Friday, December 1st. They set a “sell” rating and a $52.00 price target for the company. JMP Securities restated a “market outperform” rating and issued a $77.00 price objective on shares of Charles Schwab in a research note on Thursday, January 18th. Morgan Stanley cut their target price on shares of Charles Schwab from $71.00 to $64.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Charles Schwab from $92.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.69.

Check Out Our Latest Stock Analysis on SCHW

Insider Activity

In related news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares in the company, valued at approximately $2,425,533.39. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Peter J. Morgan III sold 7,162 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $60.72, for a total value of $434,876.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares in the company, valued at $2,425,533.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,874 shares of company stock worth $2,906,135. Insiders own 6.60% of the company’s stock.

Charles Schwab Company Profile

(Free Report)

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. The company operates in two segments, Investor Services and Advisor Services.

Recommended Stories

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.