Wedmont Private Capital Raises Position in HSBC Holdings plc (NYSE:HSBC)

Wedmont Private Capital boosted its position in shares of HSBC Holdings plc (NYSE:HSBC) by 40.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,949 shares of the financial services provider’s stock after buying an additional 2,007 shares during the period. Wedmont Private Capital’s holdings in HSBC were worth $304,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in HSBC by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,621,349 shares of the financial services provider’s stock worth $471,129,000 after acquiring an additional 376,641 shares during the last quarter. Raymond James & Associates raised its stake in HSBC by 3.6% during the first quarter. Raymond James & Associates now owns 352,093 shares of the financial services provider’s stock worth $13,858,000 after purchasing an additional 12,313 shares during the period. QRG Capital Management Inc. boosted its holdings in HSBC by 19.0% in the 2nd quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock valued at $13,180,000 after purchasing an additional 48,366 shares during the last quarter. Meritage Portfolio Management grew its stake in shares of HSBC by 6.9% in the 4th quarter. Meritage Portfolio Management now owns 247,629 shares of the financial services provider’s stock valued at $10,039,000 after buying an additional 16,015 shares during the period. Finally, CWM LLC raised its position in shares of HSBC by 3,518.2% during the 4th quarter. CWM LLC now owns 177,835 shares of the financial services provider’s stock valued at $7,209,000 after buying an additional 172,920 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $825.00.

HSBC Trading Up 1.3 %

HSBC stock traded up $0.54 on Tuesday, hitting $42.00. 1,101,738 shares of the company were exchanged, compared to its average volume of 1,881,811. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96. The stock has a market capitalization of $157.54 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58. The business’s fifty day moving average is $43.26 and its two-hundred day moving average is $41.70. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.53.

HSBC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, August 16th. HSBC’s dividend payout ratio (DPR) is 34.14%.

HSBC Company Profile

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.