Charles Schwab Investment Management Inc. Boosts Position in Xerox Holdings Co. (NYSE:XRX)

Charles Schwab Investment Management Inc. increased its stake in Xerox Holdings Co. (NYSE:XRX) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,812,102 shares of the information technology services provider’s stock after buying an additional 92,495 shares during the period. Charles Schwab Investment Management Inc. owned 1.46% of Xerox worth $15,276,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after buying an additional 69,183 shares during the period. Empowered Funds LLC increased its position in Xerox by 8.2% during the 4th quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock valued at $5,115,000 after purchasing an additional 46,212 shares during the period. Sound Income Strategies LLC increased its position in Xerox by 6.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock valued at $9,296,000 after purchasing an additional 69,182 shares during the period. Geode Capital Management LLC increased its position in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after purchasing an additional 62,947 shares during the period. Finally, Barclays PLC increased its position in Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after purchasing an additional 167,500 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Down 2.8 %

NYSE:XRX opened at $5.64 on Friday. Xerox Holdings Co. has a fifty-two week low of $5.62 and a fifty-two week high of $18.18. The stock has a market capitalization of $706.58 million, a P/E ratio of -0.53 and a beta of 1.66. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The company’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $8.86.

Xerox Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s dividend payout ratio is currently -4.66%.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.