Gradient Investments LLC boosted its position in shares of 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.
Several other hedge funds have also recently made changes to their positions in HSBC. Karp Capital Management Corp bought a new position in HSBC Holdings PLC during the first quarter worth approximately $47,142,000. LMR Partners LLP raised its position in HSBC Holdings PLC by 1,416.0% in the first quarter. LMR Partners LLP now owns 759,830 shares of the financial services provider’s stock worth $30,947,000 after buying an additional 709,710 shares in the last quarter. 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 worth $627,801,000 after buying an additional 516,291 shares in the last quarter. 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 worth $539,278,000 after buying an additional 454,788 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in HSBC Holdings PLC during the first quarter worth approximately $13,775,000. 2.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HSBC Holdings PLC (NYSE:HSBC) traded down 0.230% during midday trading on Tuesday, reaching $49.805. The company’s stock had a trading volume of 774,274 shares. The company has a market capitalization of $201.90 billion, a P/E ratio of 101.643 and a beta of 0.89. The company’s 50-day moving average price is $46.67 and its 200 day moving average price is $43.17. HSBC Holdings PLC has a 12-month low of $34.50 and a 12-month high of $50.86.
HSBC Holdings PLC (NYSE:HSBC) last released its quarterly earnings data on Monday, July 31st. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. HSBC Holdings PLC had a return on equity of 2.08% and a net margin of 1.42%. The business had revenue of $13.17 billion during the quarter. On average, equities research analysts forecast that HSBC Holdings PLC will post $2.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, August 4th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Wednesday, August 2nd. HSBC Holdings PLC’s dividend payout ratio (DPR) is currently 400.01%.
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A number of equities analysts recently commented on the company. Zacks Investment Research raised HSBC Holdings PLC from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Wednesday, August 2nd. BidaskClub lowered HSBC Holdings PLC from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Berenberg Bank lowered HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. HSBC Holdings PLC has a consensus rating of “Buy” and a consensus price target of $36.62.
HSBC Holdings PLC Company Profile
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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