HSBC Holdings plc (NYSE:HSBC) Stock Holdings Lessened by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC reduced its position in shares of HSBC Holdings plc (NYSE:HSBC) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,185 shares of the financial services provider’s stock after selling 2,327 shares during the quarter. Miracle Mile Advisors LLC’s holdings in HSBC were worth $991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of HSBC by 38.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 940 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 263 shares in the last quarter. Savant Capital LLC lifted its position in HSBC by 5.3% during the 4th quarter. Savant Capital LLC now owns 5,574 shares of the financial services provider’s stock worth $226,000 after buying an additional 279 shares in the last quarter. Addison Advisors LLC lifted its position in HSBC by 74.8% during the 4th quarter. Addison Advisors LLC now owns 895 shares of the financial services provider’s stock worth $36,000 after buying an additional 383 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of HSBC by 1.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 28,179 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 393 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of HSBC by 15.0% during the 1st quarter. GAMMA Investing LLC now owns 3,468 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 452 shares during the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Trading Up 0.7 %

HSBC stock traded up $0.31 during mid-day trading on Monday, reaching $43.81. 882,441 shares of the company traded hands, compared to its average volume of 1,961,676. HSBC Holdings plc has a 52-week low of $35.30 and a 52-week high of $45.46. The firm’s 50 day moving average price is $43.86 and its 200 day moving average price is $40.98. The firm has a market capitalization of $164.33 billion, a price-to-earnings ratio of 7.54, a P/E/G ratio of 1.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. The business had revenue of $20.75 billion during the quarter. On average, analysts anticipate that HSBC Holdings plc will post 6.35 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Thursday, May 9th. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Wall Street Analysts Forecast Growth

Separately, Barclays reiterated an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, HSBC currently has an average rating of “Hold” and a consensus target price of $761.75.

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.