Kovack Advisors Inc. Sells 3,850 Shares of Xerox Holdings Co. (NYSE:XRX)

Kovack Advisors Inc. lessened its stake in Xerox Holdings Co. (NYSE:XRX) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,250 shares of the information technology services provider’s stock after selling 3,850 shares during the quarter. Kovack Advisors Inc.’s holdings in Xerox were worth $848,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of XRX. GAMMA Investing LLC purchased a new stake in shares of Xerox during the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Xerox during the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC increased its position in shares of Xerox by 87.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 758 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Xerox by 1,733.2% during the fourth quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 4,333 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. increased its position in shares of Xerox by 5,572.3% during the third quarter. C M Bidwell & Associates Ltd. now owns 8,395 shares of the information technology services provider’s stock valued at $132,000 after acquiring an additional 8,247 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

XRX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday.

Xerox Stock Performance

NYSE:XRX opened at $14.00 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 0.91. The business has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $16.29. Xerox Holdings Co. has a 1 year low of $12.06 and a 1 year high of $19.78. The company has a market capitalization of $1.74 billion, a P/E ratio of 10.07 and a beta of 1.56.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, analysts expect that Xerox Holdings Co. will post 2.16 earnings per share for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

About Xerox

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.