Cookson Peirce & Co. Inc. Sells 14,671 Shares of HSBC Holdings plc (NYSE:HSBC)

Key Points

• Cookson Peirce & Co. Inc. has reduced its stake in HSBC Holdings plc by 2.2%, selling 14,671 shares, resulting in ownership of 663,755 shares valued at approximately $38.1 million.
• HSBC's stock received a "neutral" rating with a price target of $63.00 from Bank of America, with an average rating of "Hold" among analysts.
• The company announced a dividend of $0.495 per share, set to be paid on September 26th, with an ex-dividend date of August 15th, representing a yield of 3.08%.

Cookson Peirce & Co. Inc. reduced its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 663,755 shares of the financial services provider's stock after selling 14,671 shares during the period. HSBC accounts for approximately 1.9% of Cookson Peirce & Co. Inc.'s portfolio, making the stock its 14th largest holding. Cookson Peirce & Co. Inc.'s holdings in HSBC were worth $38,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westover Capital Advisors LLC raised its stake in HSBC by 2.5% in the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock valued at $468,000 after acquiring an additional 200 shares during the period. GeoWealth Management LLC lifted its holdings in shares of HSBC by 6.7% in the fourth quarter. GeoWealth Management LLC now owns 3,279 shares of the financial services provider's stock worth $162,000 after buying an additional 205 shares in the last quarter. Lido Advisors LLC boosted its position in shares of HSBC by 3.4% in the fourth quarter. Lido Advisors LLC now owns 7,531 shares of the financial services provider's stock valued at $372,000 after acquiring an additional 249 shares during the period. Larson Financial Group LLC grew its stake in HSBC by 32.1% during the first quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 249 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in HSBC by 0.3% during the fourth quarter. BNP Paribas Financial Markets now owns 93,929 shares of the financial services provider's stock valued at $4,646,000 after acquiring an additional 254 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Bank of America reaffirmed a "neutral" rating and set a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.00.

HSBC Stock Up 0.0%

HSBC stock opened at $65.00 on Thursday. 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 company's 50 day moving average is $61.68 and its 200 day moving average is $57.86. The stock has a market cap of $226.94 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.45 and a beta of 0.60. HSBC Holdings plc has a 1-year low of $42.06 and a 1-year high of $65.75.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to analysts' expectations of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. Sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, September 26th. Shareholders of record on Monday, August 18th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 308.0%. HSBC's dividend payout ratio is currently 39.21%.

HSBC 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.

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