2,699 Shares in The Charles Schwab Corporation $SCHW Bought by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, HoldingsChannel reports. The institutional investor acquired 2,699 shares of the financial services provider’s stock, valued at approximately $246,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after buying an additional 19,817,022 shares during the period. Wellington Management Group LLP lifted its position in shares of Charles Schwab by 595.7% in the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the period. Primecap Management Co. CA boosted its position in Charles Schwab by 229.3% during the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after acquiring an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Charles Schwab during the 1st quarter worth approximately $440,699,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 65,866 shares of company stock worth $6,370,897 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Barclays increased their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. TD Cowen boosted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, BMO Capital Markets initiated coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Trading Down 1.0%

Shares of NYSE:SCHW traded down $0.94 during trading on Thursday, reaching $96.77. The stock had a trading volume of 783,168 shares, compared to its average volume of 9,697,901. The business has a fifty day moving average price of $94.06 and a 200-day moving average price of $92.23. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The stock has a market cap of $171.95 billion, a P/E ratio of 22.66, a PEG ratio of 0.85 and a beta of 1.02.

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

Charles Schwab declared that its board has approved a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

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.