W.H. Cornerstone Investments Inc. Buys 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 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,170 shares of the financial services provider’s stock, valued at approximately $287,000.

A number of other institutional investors have also made changes to their positions in the stock. Investment Research & Advisory Group Inc. lifted its holdings in Charles Schwab by 1.0% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after acquiring an additional 607 shares in the last quarter. Bamco Inc. NY increased its stake in Charles Schwab by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after purchasing an additional 42,588 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Charles Schwab by 43.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after buying an additional 166,316 shares during the period. Retirement Systems of Alabama lifted its stake in Charles Schwab by 13.0% in the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after buying an additional 152,967 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Charles Schwab by 22.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after buying an additional 160,719 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

NYSE:SCHW traded up $0.71 on Friday, hitting $76.04. The company’s stock had a trading volume of 5,414,735 shares, compared to its average volume of 7,577,556. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $76.47. The stock has a fifty day moving average of $70.75 and a two-hundred day moving average of $64.80. The firm has a market capitalization of $135.05 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders 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 yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is 41.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SCHW. Barclays upped their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Piper Sandler lifted their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Morgan Stanley lifted their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.47.

Insiders Place Their Bets

In related news, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the transaction, the insider now owns 81,446 shares in the company, valued at approximately $5,522,038.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Nigel J. Murtagh sold 29,991 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now directly owns 81,446 shares in the company, valued at approximately $5,522,038.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter B. Crawford sold 5,481 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total value of $413,870.31. Following the transaction, the chief financial officer now owns 60,567 shares in the company, valued at approximately $4,573,414.17. The disclosure for this sale can be found here. Insiders sold a total of 514,459 shares of company stock valued at $36,371,155 over the last ninety days. 6.60% of the stock is currently owned by company 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.