Fisher Asset Management LLC Boosts Stake in HSBC Holdings plc $HSBC

Key Points

• Fisher Asset Management increased its HSBC stake by 2.3% in the fourth quarter, buying more shares and bringing its position to 17.8 million shares worth about $1.4 billion.
• Analysts are mixed on HSBC: the stock currently carries a consensus Hold rating with a target price of $63, as several firms recently cut or maintained cautious views while Goldman Sachs initiated coverage with a Buy.
• HSBC reported quarterly EPS of $0.44 on revenue of $19.13 billion and also announced a quarterly dividend of $0.50 per share, implying an annualized yield of about 2.2%.

Fisher Asset Management LLC lifted its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,800,748 shares of the financial services provider's stock after purchasing an additional 402,288 shares during the period. Fisher Asset Management LLC owned about 0.52% of HSBC worth $1,400,385,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cornerstone Planning Group LLC grew its holdings in shares of HSBC by 30.7% during the 4th quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 117 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its holdings in shares of HSBC by 1.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider's stock valued at $979,000 after purchasing an additional 123 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of HSBC by 0.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 26,554 shares of the financial services provider's stock valued at $2,089,000 after purchasing an additional 144 shares during the last quarter. Net Worth Advisory Group grew its holdings in shares of HSBC by 2.3% during the 4th quarter. Net Worth Advisory Group now owns 6,466 shares of the financial services provider's stock valued at $509,000 after purchasing an additional 146 shares during the last quarter. Finally, Bridgewater Advisors Inc. grew its holdings in shares of HSBC by 1.9% during the 3rd quarter. Bridgewater Advisors Inc. now owns 8,186 shares of the financial services provider's stock valued at $589,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 1.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of HSBC in a report on Thursday, May 14th. BNP Paribas Exane lowered shares of HSBC from an "outperform" rating to a "neutral" rating in a report on Tuesday, April 14th. The Goldman Sachs Group began coverage on shares of HSBC in a report on Thursday, March 26th. They issued a "buy" rating on the stock. Zacks Research lowered shares of HSBC from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of HSBC from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, HSBC has a consensus rating of "Hold" and a consensus target price of $63.00.

HSBC Price Performance

Shares of HSBC stock opened at $91.94 on Monday. The firm has a market cap of $315.96 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.92 and a beta of 0.56. HSBC Holdings plc has a 12-month low of $58.14 and a 12-month high of $94.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52. The company's fifty day simple moving average is $86.92 and its two-hundred day simple moving average is $82.56.

HSBC (NYSE:HSBC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $19.13 billion for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. As a group, equities analysts expect that HSBC Holdings plc will post 8.54 EPS for the current year.

HSBC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. HSBC's payout ratio is presently 32.46%.

Insider Buying and Selling at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.11, for a total transaction of $418,757.53. Following the sale, the insider owned 4,973 shares of the company's stock, valued at approximately $90,061.03. The trade was a 82.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.01% of the company's stock.

About HSBC

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.

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