HSBC Holdings plc $HSBC Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in HSBC Holdings plc by 18.9% during the second quarter, now holding 23,830 shares worth approximately $1.45 million.
• HSBC reported $1.95 earnings per share for the last quarter, surpassing analysts' expectations of $1.62, with revenues of $16.90 billion compared to forecasts of $16.64 billion.
• The bank declared a quarterly dividend of $0.495, which equates to an annual yield of 2.8% and reflects a dividend payout ratio of 39.21%.

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 18.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,830 shares of the financial services provider's stock after selling 5,561 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in HSBC were worth $1,446,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of HSBC during the 1st quarter worth approximately $30,000. Garde Capital Inc. acquired a new position in shares of HSBC during the 1st quarter worth approximately $43,000. Elequin Capital LP raised its stake in shares of HSBC by 282.2% during the 1st quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock worth $44,000 after buying an additional 570 shares during the period. Bessemer Group Inc. raised its stake in shares of HSBC by 51.0% during the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after buying an additional 292 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock worth $59,000 after buying an additional 249 shares during the period. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Price Performance

HSBC stock opened at $71.00 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. The firm has a market capitalization of $246.41 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.57 and a beta of 0.65. The business's 50-day moving average is $65.89 and its two-hundred day moving average is $60.57. HSBC Holdings plc has a 1 year low of $43.81 and a 1 year high of $71.06.

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

HSBC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were given a $0.495 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. HSBC's dividend payout ratio (DPR) is currently 39.21%.

Wall Street Analysts Forecast Growth

HSBC has been the subject of several research analyst reports. Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. BNP Paribas Exane upgraded HSBC from an "underperform" rating to an "outperform" rating in a research report on Friday, September 5th. BNP Paribas upgraded HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Citigroup reiterated a "buy" rating on shares of HSBC in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $63.00.

About HSBC

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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