W.H. Cornerstone Investments Inc. Acquires Shares of 4,170 The Charles Schwab Co. (NYSE:SCHW)

W.H. Cornerstone Investments Inc. purchased a new position in The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, Holdings Channel reports. The fund purchased 4,170 shares of the financial services provider’s stock, valued at approximately $287,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence Capital Advisors LLC purchased a new position in shares of Charles Schwab during the 3rd quarter valued at $28,000. Sugarloaf Wealth Management LLC increased its stake in shares of Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at approximately $34,000. Finally, Hall Laurie J Trustee bought a new position in Charles Schwab in the 4th quarter worth approximately $34,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SCHW. Raymond James lowered their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Morgan Stanley increased their price objective on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a report on Tuesday, April 16th. Piper Sandler increased their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Bank of America increased their price objective on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.47.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 58,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total value of $3,779,100.00. Following the completion of the sale, the chairman now owns 61,192,538 shares of the company’s stock, valued at approximately $3,953,037,954.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Peter B. Crawford sold 5,481 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total transaction of $413,870.31. Following the completion of the sale, the chief financial officer now directly owns 60,567 shares in the company, valued at $4,573,414.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 58,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $64.60, for a total value of $3,779,100.00. Following the transaction, the chairman now owns 61,192,538 shares in the company, valued at approximately $3,953,037,954.80. The disclosure for this sale can be found here. Insiders have sold a total of 514,459 shares of company stock worth $36,371,155 in the last 90 days. 6.60% of the stock is owned by company insiders.

Charles Schwab Price Performance

NYSE SCHW traded up $0.71 on Friday, reaching $76.04. 5,414,735 shares of the company’s stock traded hands, compared to its average volume of 7,577,556. The stock has a market cap of $135.05 billion, a PE ratio of 31.82, a P/E/G ratio of 1.11 and a beta of 0.98. The Charles Schwab Co. has a 12 month low of $45.65 and a 12 month high of $76.47. The stock has a 50-day simple moving average of $70.75 and a 200 day simple moving average of $64.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.