Miracle Mile Advisors LLC Has $2.20 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Miracle Mile Advisors LLC grew its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,343 shares of the financial services provider’s stock after acquiring an additional 401 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Charles Schwab were worth $2,195,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC raised its stake in shares of Charles Schwab by 60.0% during the 4th 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. Frazier Financial Advisors LLC bought a new stake in shares of Charles Schwab during the 4th quarter worth approximately $30,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Charles Schwab during the 4th quarter worth approximately $31,000. Hall Laurie J Trustee bought a new stake in shares of Charles Schwab during the 4th quarter worth approximately $34,000. Finally, Glass Jacobson Investment Advisors llc raised its stake in shares of Charles Schwab by 81.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft dropped their price target on Charles Schwab from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. JPMorgan Chase & Co. dropped their price target on Charles Schwab from $89.00 to $81.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, UBS Group increased their price target on Charles Schwab from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.56.

Charles Schwab Stock Down 0.4 %

SCHW stock opened at $73.42 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $130.49 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.14 and a beta of 0.99. The business’s fifty day moving average price is $74.42 and its two-hundred day moving average price is $69.84. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.25 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now directly owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the sale, the director now directly owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at $8,630,986.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 658,663 shares of company stock valued at $48,997,146. 6.60% of the stock is owned by corporate insiders.

Charles Schwab 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.