Foundations Investment Advisors LLC Purchases New Shares in HSBC Holdings plc $HSBC

Foundations Investment Advisors LLC acquired a new position in HSBC Holdings plc (NYSE:HSBC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,208 shares of the financial services provider’s stock, valued at approximately $512,000.

A number of other large investors have also recently modified their holdings of the stock. Fisher Asset Management LLC raised its stake in HSBC by 9.2% in the second quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock worth $1,036,067,000 after buying an additional 1,430,797 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of HSBC by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 1,143,382 shares of the financial services provider’s stock worth $69,506,000 after acquiring an additional 121,151 shares during the period. JPMorgan Chase & Co. raised its position in shares of HSBC by 160.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock worth $30,529,000 after acquiring an additional 309,738 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of HSBC by 36.7% during the second quarter. Qube Research & Technologies Ltd now owns 365,570 shares of the financial services provider’s stock valued at $22,223,000 after purchasing an additional 98,048 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in HSBC by 1.2% in the second quarter. Raymond James Financial Inc. now owns 338,050 shares of the financial services provider’s stock worth $20,550,000 after purchasing an additional 4,072 shares during the period. Institutional investors own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

HSBC has been the subject of several recent research reports. Zacks Research raised HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Morgan Stanley assumed coverage on shares of HSBC in a research note on Wednesday, January 14th. They set an “equal weight” rating on the stock. Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. Finally, Citigroup reissued a “buy” rating on shares of HSBC in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, HSBC currently has an average rating of “Moderate Buy” and an average target price of $63.00.

HSBC Trading Up 1.8%

Shares of NYSE HSBC opened at $89.60 on Tuesday. The firm’s 50 day moving average price is $78.73 and its 200-day moving average price is $71.32. HSBC Holdings plc has a 52-week low of $45.66 and a 52-week high of $89.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $307.77 billion, a PE ratio of 18.86, a P/E/G ratio of 1.02 and a beta of 0.52.

HSBC Company Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.