Milestone Asset Management LLC Buys 649 Shares of The Charles Schwab Co. (NYSE:SCHW)

Milestone Asset Management LLC grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,258 shares of the financial services provider’s stock after purchasing an additional 649 shares during the period. Milestone Asset Management LLC’s holdings in Charles Schwab were worth $387,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Charles Schwab by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after purchasing an additional 296,317 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $950,192,000. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SCHW shares. Keefe, Bruyette & Woods raised Charles Schwab from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $76.00 to $84.00 in a report on Monday, July 8th. Morgan Stanley reduced their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a report on Monday, July 29th. Bank of America cut their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Finally, UBS Group decreased their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.27.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $65.58 on Tuesday. The company’s fifty day moving average price is $68.97 and its 200 day moving average price is $70.05. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a market capitalization of $116.63 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period in the previous year, the business earned $0.75 EPS. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts predict that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. Charles Schwab’s payout ratio is 41.84%.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Walter W. Bettinger bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,231 shares of company stock valued at $12,638,320. 6.60% of the stock is owned by company 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.