Gradient Investments LLC boosted its stake in HSBC Holdings PLC (NYSE:HSBC) by 185.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,993 shares of the financial services provider’s stock after buying an additional 11,690 shares during the period. Gradient Investments LLC’s holdings in HSBC Holdings PLC were worth $835,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSBC. Fisher Asset Management LLC raised its position in HSBC Holdings PLC by 4.0% in the second quarter. Fisher Asset Management LLC now owns 13,533,107 shares of the financial services provider’s stock valued at $627,801,000 after buying an additional 516,291 shares during the period. Dimensional Fund Advisors LP raised its position in HSBC Holdings PLC by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 13,211,121 shares of the financial services provider’s stock valued at $539,278,000 after buying an additional 454,788 shares during the period. Cambiar Investors LLC raised its position in HSBC Holdings PLC by 1.3% in the first quarter. Cambiar Investors LLC now owns 6,581,634 shares of the financial services provider’s stock valued at $268,662,000 after buying an additional 86,829 shares during the period. Harding Loevner LP raised its position in HSBC Holdings PLC by 9.5% in the first quarter. Harding Loevner LP now owns 2,042,223 shares of the financial services provider’s stock valued at $83,364,000 after buying an additional 177,452 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in HSBC Holdings PLC by 22.1% in the first quarter. Parametric Portfolio Associates LLC now owns 1,850,523 shares of the financial services provider’s stock valued at $75,538,000 after buying an additional 334,869 shares during the period. 2.38% of the stock is currently owned by institutional investors.
HSBC Holdings PLC (HSBC) traded down 0.69% on Friday, hitting $47.78. The stock had a trading volume of 984,678 shares. The company has a market cap of $186.94 billion, a price-to-earnings ratio of 353.93 and a beta of 0.87. HSBC Holdings PLC has a 12-month low of $32.03 and a 12-month high of $48.39. The company’s 50 day moving average price is $45.49 and its 200-day moving average price is $42.69.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, May 19th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Wednesday, May 17th. HSBC Holdings PLC’s dividend payout ratio (DPR) is presently 1,333.33%.
Several research analysts have commented on HSBC shares. Zacks Investment Research lowered HSBC Holdings PLC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub raised HSBC Holdings PLC from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Morgan Stanley raised HSBC Holdings PLC from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 28th. Finally, Berenberg Bank lowered HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. HSBC Holdings PLC presently has a consensus rating of “Buy” and an average price target of $34.87.
About HSBC Holdings PLC
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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