The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 56.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,739 shares of the financial services provider’s stock after buying an additional 15,041 shares during the period. Miracle Mile Advisors LLC’s holdings in Charles Schwab were worth $3,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. raised its position in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Charles Schwab during the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab in the third quarter worth $31,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Charles Schwab during the third quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Charles Schwab during the third quarter valued at $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,968 shares of company stock worth $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $72.64 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company’s fifty day moving average price is $77.60 and its 200 day moving average price is $70.59. The stock has a market capitalization of $129.27 billion, a P/E ratio of 28.38, a P/E/G ratio of 1.76 and a beta of 0.99. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Wall Street Analyst Weigh In

A number of analysts have commented on SCHW shares. Truist Financial raised Charles Schwab to a “strong-buy” rating in a research report on Monday, January 6th. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.69.

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.