The Charles Schwab Corporation (NYSE:SCHW) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,551 shares of the financial services provider’s stock after acquiring an additional 132 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Charles Schwab were worth $513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Atwood & Palmer Inc. purchased a new position in shares of Charles Schwab in the first quarter worth $25,000. WFA Asset Management Corp acquired a new position in shares of Charles Schwab in the 1st quarter valued at $33,000. Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab in the 4th quarter worth $38,000. Atala Financial Inc acquired a new stake in Charles Schwab during the 4th quarter worth about $41,000. Finally, Investors Research Corp grew its stake in Charles Schwab by 75.2% during the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 240 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SCHW has been the subject of a number of research reports. Morgan Stanley lifted their target price on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. JMP Securities restated a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a research note on Monday, April 21st. TD Securities increased their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Wells Fargo & Company reduced their target price on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, UBS Group upped their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.40.

Charles Schwab Price Performance

Charles Schwab stock opened at $89.90 on Friday. The stock has a market capitalization of $163.35 billion, a P/E ratio of 27.24, a P/E/G ratio of 0.96 and a beta of 0.94. The company’s fifty day moving average price is $84.57 and its 200 day moving average price is $80.07. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.19.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter last year, the business earned $0.74 earnings per share. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.20%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity

In other news, insider Jonathan M. Craig sold 47,500 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the sale, the insider now owns 15,219 shares of the company’s stock, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,608 shares of company stock worth $8,392,040 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Company 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.