2,756 Shares in HSBC Holdings plc $HSBC Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC bought a new stake in HSBC Holdings plc (NYSE:HSBC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,756 shares of the financial services provider’s stock, valued at approximately $168,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HSBC. NewSquare Capital LLC lifted its holdings in HSBC by 152.6% during the 2nd quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after buying an additional 261 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of HSBC by 101.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 234 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of HSBC in the 2nd quarter worth $31,000. Raleigh Capital Management Inc. acquired a new stake in shares of HSBC in the 2nd quarter valued at approximately $33,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of HSBC in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on HSBC. Weiss Ratings reissued a “hold (c+)” rating on shares of HSBC in a report on Wednesday, November 19th. 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 raised HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Erste Group Bank upgraded HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

HSBC Stock Performance

HSBC stock opened at $69.45 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.93 and a current ratio of 0.92. HSBC Holdings plc has a fifty-two week low of $45.66 and a fifty-two week high of $74.17. The stock has a fifty day moving average of $69.50 and a two-hundred day moving average of $64.80. The company has a market capitalization of $238.56 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.30 and a beta of 0.64.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $16.78 billion. HSBC had a return on equity of 12.78% and a net margin of 12.85%. On average, analysts anticipate that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be given a $0.50 dividend. This is a boost from HSBC’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 7th. HSBC’s dividend payout ratio (DPR) is presently 41.68%.

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.