Spire Wealth Management reduced its holdings in shares of HSBC Holdings plc (NYSE:HSBC – Free Report) by 24.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,848 shares of the financial services provider’s stock after selling 600 shares during the quarter. Spire Wealth Management’s holdings in HSBC were worth $73,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of HSBC by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,526,769 shares of the financial services provider’s stock worth $359,280,000 after buying an additional 341,151 shares during the last quarter. Morgan Stanley increased its position in shares of HSBC by 2.1% during the 4th quarter. Morgan Stanley now owns 5,318,285 shares of the financial services provider’s stock worth $165,718,000 after purchasing an additional 109,003 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of HSBC by 2.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,825,272 shares of the financial services provider’s stock valued at $124,972,000 after buying an additional 86,421 shares during the last quarter. Bank of America Corp DE grew its stake in shares of HSBC by 186.8% in the first quarter. Bank of America Corp DE now owns 3,367,602 shares of the financial services provider’s stock valued at $114,936,000 after buying an additional 2,193,561 shares in the last quarter. Finally, Norges Bank bought a new stake in HSBC during the fourth quarter worth $65,592,000. Institutional investors own 1.48% of the company’s stock.
HSBC Stock Performance
Shares of HSBC stock opened at $38.74 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. HSBC Holdings plc has a 1 year low of $28.51 and a 1 year high of $42.47. The firm’s 50-day moving average is $38.61 and its 200 day moving average is $38.82. The stock has a market cap of $155.21 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 0.30 and a beta of 0.60.
HSBC Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, November 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.00 dividend on an annualized basis and a yield of 5.16%. HSBC’s dividend payout ratio is currently 28.70%.
Analysts Set New Price Targets
HSBC has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of HSBC in a research note on Thursday, October 5th. They set a “hold” rating on the stock. The Goldman Sachs Group raised shares of HSBC from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 12th. Royal Bank of Canada increased their price objective on shares of HSBC from GBX 800 ($10.01) to GBX 825 ($10.32) in a research note on Monday, August 14th. JPMorgan Chase & Co. upgraded shares of HSBC from a “neutral” rating to an “overweight” rating in a research report on Monday, August 7th. Finally, UBS Group cut shares of HSBC from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $811.00.
HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.
- Five stocks we like better than HSBC
- Your Comprehensive Guide to Investing in Bank Stocks
- The most upgraded stocks in November have two things in common
- How to Calculate Stock Profit
- Monday.com rocked earnings like it’s the weekend
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Plan to own one retailer? Make it this one
Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.