Cornerstone Wealth Management LLC Decreases Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Cornerstone Wealth Management LLC decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,419 shares of the financial services provider’s stock after selling 552 shares during the period. Cornerstone Wealth Management LLC’s holdings in Charles Schwab were worth $475,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the period. Geode Capital Management LLC raised its position in shares of Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after acquiring an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after purchasing an additional 493,264 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 41,466 shares of company stock valued at $3,352,884 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Raymond James reduced their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $83.83.

Charles Schwab Stock Down 0.5 %

Shares of NYSE:SCHW opened at $81.67 on Friday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $83.35. The stock has a market cap of $145.34 billion, a P/E ratio of 27.31, a PEG ratio of 1.46 and a beta of 0.99. The business has a fifty day moving average of $77.81 and a two-hundred day moving average of $70.88. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5,190,822.51 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Co. will post 4.09 earnings per share for the current year.

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.