Wedmont Private Capital Purchases 2,007 Shares of HSBC Holdings plc (NYSE:HSBC)

Wedmont Private Capital increased its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 40.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,949 shares of the financial services provider’s stock after acquiring an additional 2,007 shares during the quarter. Wedmont Private Capital’s holdings in HSBC were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mission Wealth Management LP increased its position in shares of HSBC by 21.5% in the first quarter. Mission Wealth Management LP now owns 6,311 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 1,115 shares during the period. Pitcairn Co. acquired a new position in shares of HSBC in the 1st quarter valued at approximately $567,000. Insight Folios Inc bought a new stake in shares of HSBC during the 1st quarter worth approximately $4,589,000. Dimensional Fund Advisors LP boosted its position in shares of HSBC by 3.3% during the 4th 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 in the last quarter. Finally, Founders Financial Securities LLC bought a new position in HSBC in the first quarter valued at approximately $684,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analyst Ratings Changes

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

HSBC Price Performance

HSBC stock traded up $0.54 during trading on Tuesday, reaching $42.00. 1,101,738 shares of the company were exchanged, compared to its average volume of 1,881,811. HSBC Holdings plc has a twelve month low of $35.30 and a twelve month high of $45.53. 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 company has a market capitalization of $157.54 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 0.92 and a beta of 0.58. The company has a 50-day moving average of $43.26 and a two-hundred day moving average of $41.70.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend 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.