4,046 Shares in HSBC Holdings plc $HSBC Purchased by AlTi Global Inc.

AlTi Global Inc. bought a new position in shares of HSBC Holdings plc (NYSE:HSBC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,046 shares of the financial services provider’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HSBC. GAMMA Investing LLC boosted its stake in HSBC by 24.7% during the first quarter. GAMMA Investing LLC now owns 9,739 shares of the financial services provider’s stock valued at $559,000 after buying an additional 1,929 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in HSBC by 6.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,391 shares of the financial services provider’s stock valued at $1,688,000 after buying an additional 1,897 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in HSBC by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,735 shares of the financial services provider’s stock valued at $674,000 after buying an additional 959 shares during the last quarter. Spire Wealth Management boosted its stake in HSBC by 59.4% during the first quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider’s stock valued at $76,000 after buying an additional 492 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in HSBC by 51.0% during the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider’s stock valued at $50,000 after buying an additional 292 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Stock Up 1.1%

Shares of NYSE HSBC opened at $66.99 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $231.14 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.76 and a beta of 0.62. The stock’s fifty day simple moving average is $67.46 and its two-hundred day simple moving average is $62.13. HSBC Holdings plc has a 12-month low of $44.33 and a 12-month high of $72.21.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. The business had revenue of $16.90 billion for the quarter, compared to analysts’ expectations of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. As a group, analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 15th. HSBC’s dividend payout ratio is currently 39.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HSBC shares. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. BNP Paribas Exane upgraded HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Zacks Research downgraded HSBC from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of HSBC in a research note on Saturday. Finally, Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, HSBC has a consensus rating of “Hold” and an average price target of $63.00.

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.