W.H. Cornerstone Investments Inc. Purchases Shares of 2,699 The Charles Schwab Corporation $SCHW

W.H. Cornerstone Investments Inc. purchased a new position in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,699 shares of the financial services provider’s stock, valued at approximately $246,000.

A number of other large investors have also modified their holdings of SCHW. Brighton Jones LLC grew its stake in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 19,195 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Charles Schwab by 4.3% in the 1st quarter. Bleakley Financial Group LLC now owns 26,426 shares of the financial services provider’s stock valued at $2,069,000 after acquiring an additional 1,082 shares during the period. Sigma Planning Corp increased its position in shares of Charles Schwab by 58.1% in the 1st quarter. Sigma Planning Corp now owns 13,516 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 4,965 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Charles Schwab by 5.6% during the first quarter. Apollon Wealth Management LLC now owns 37,719 shares of the financial services provider’s stock worth $2,953,000 after purchasing an additional 1,985 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in Charles Schwab in the first quarter valued at approximately $331,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SCHW. Truist Financial lifted their target price on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Morgan Stanley increased their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. TD Cowen boosted their price target on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Citigroup lifted their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $106.45.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,866 shares of company stock valued at $6,370,897 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Trading Down 1.0%

NYSE SCHW traded down $0.94 during mid-day trading on Thursday, reaching $96.77. 783,168 shares of the stock were exchanged, compared to its average volume of 9,697,901. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a 50 day simple moving average of $94.06 and a 200-day simple moving average of $92.23. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The stock has a market cap of $171.95 billion, a P/E ratio of 22.66, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. On average, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

About Charles Schwab

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.