Morgan Stanley Boosts TD Ameritrade (AMTD) Price Target to $66.00
TD Ameritrade (NASDAQ:AMTD) had its price target hoisted by Morgan Stanley from $63.00 to $66.00 in a research report sent to investors on Wednesday. The firm currently has an equal weight rating on the financial services provider’s stock.
A number of other research firms have also issued reports on AMTD. Jefferies Group restated a hold rating and issued a $65.00 target price on shares of TD Ameritrade in a report on Tuesday. Zacks Investment Research lowered shares of TD Ameritrade from a buy rating to a hold rating in a report on Tuesday, April 17th. Keefe, Bruyette & Woods restated a buy rating and issued a $69.00 target price on shares of TD Ameritrade in a report on Thursday, April 12th. Rosenblatt Securities set a $65.00 target price on shares of TD Ameritrade and gave the company a buy rating in a report on Friday, April 6th. Finally, Deutsche Bank increased their price objective on shares of TD Ameritrade from $69.00 to $70.00 and gave the stock a buy rating in a report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. TD Ameritrade currently has an average rating of Buy and a consensus target price of $63.24.
NASDAQ:AMTD opened at $58.33 on Wednesday. The stock has a market capitalization of $32,856.36, a price-to-earnings ratio of 31.70, a PEG ratio of 0.90 and a beta of 1.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 1.15. TD Ameritrade has a 12-month low of $36.12 and a 12-month high of $63.01.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Tuesday, May 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, May 7th. This represents a $0.84 annualized dividend and a dividend yield of 1.44%. TD Ameritrade’s payout ratio is currently 45.65%.
In other news, EVP Thomas A. Nally sold 17,243 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $56.13, for a total transaction of $967,849.59. Following the transaction, the executive vice president now directly owns 160,079 shares in the company, valued at approximately $8,985,234.27. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.44% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AMTD. Ladenburg Thalmann Financial Services Inc. increased its position in TD Ameritrade by 33.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,791 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 1,210 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in TD Ameritrade by 25.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 257,842 shares of the financial services provider’s stock worth $12,583,000 after purchasing an additional 52,437 shares in the last quarter. Baltimore Washington Financial Advisors Inc. acquired a new stake in TD Ameritrade during the 4th quarter worth approximately $7,227,000. Bank of Montreal Can increased its position in TD Ameritrade by 3.0% during the 4th quarter. Bank of Montreal Can now owns 478,693 shares of the financial services provider’s stock worth $24,476,000 after purchasing an additional 13,790 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in TD Ameritrade by 9.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 562,578 shares of the financial services provider’s stock worth $28,765,000 after purchasing an additional 46,421 shares in the last quarter. 92.04% of the stock is owned by hedge funds and other institutional investors.
About TD Ameritrade
TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States. Its products and services include tdameritrade.com, a Web platform for self-directed retail investors; Trade Architect, a Web-based platform for investors and traders to identify opportunities and stay informed; thinkorswim, a desktop platform for traders; and TD Ameritrade Mobile, which allows on-the-go investors and traders to trade and monitor accounts.
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