Avantax Advisory Services Inc. Increases Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Avantax Advisory Services Inc. lifted its position in HSBC Holdings plc (NYSE:HSBC) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,973 shares of the financial services provider’s stock after purchasing an additional 1,511 shares during the quarter. Avantax Advisory Services Inc.’s holdings in HSBC were worth $691,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in shares of HSBC by 58.2% in the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 210 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of HSBC by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,909 shares of the financial services provider’s stock valued at $990,000 after purchasing an additional 235 shares during the period. Sonoma Private Wealth LLC grew its holdings in shares of HSBC by 3.9% in the fourth quarter. Sonoma Private Wealth LLC now owns 6,635 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 250 shares during the period. Abel Hall LLC grew its holdings in shares of HSBC by 4.3% in the third quarter. Abel Hall LLC now owns 6,221 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 257 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in HSBC by 1.9% during the third quarter. Integrated Wealth Concepts LLC now owns 14,185 shares of the financial services provider’s stock worth $641,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on HSBC shares. Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Barclays raised shares of HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. StockNews.com raised shares of HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Monday, February 3rd. Finally, UBS Group reaffirmed a “neutral” rating on shares of HSBC in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

HSBC Stock Up 0.5 %

Shares of HSBC opened at $57.87 on Friday. The stock has a market capitalization of $206.08 billion, a PE ratio of 9.33, a P/E/G ratio of 1.05 and a beta of 0.51. HSBC Holdings plc has a 1 year low of $38.94 and a 1 year high of $61.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. The company’s 50-day simple moving average is $54.86 and its 200-day simple moving average is $49.19.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.04. The business had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $13.79 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. Analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $7.20 annualized dividend and a yield of 12.44%. HSBC’s dividend payout ratio (DPR) is 115.81%.

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.