Schechter Investment Advisors LLC Sells 3,255 Shares of HSBC Holdings plc (NYSE:HSBC)

Schechter Investment Advisors LLC lessened its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 10.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,237 shares of the financial services provider’s stock after selling 3,255 shares during the period. Schechter Investment Advisors LLC’s holdings in HSBC were worth $1,104,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HSBC. Bank of America Corp DE boosted its holdings in HSBC by 186.8% in the first quarter. Bank of America Corp DE now owns 3,367,602 shares of the financial services provider’s stock valued at $114,936,000 after acquiring an additional 2,193,561 shares during the last quarter. Norges Bank bought a new position in HSBC in the fourth quarter valued at about $65,592,000. Lazard Asset Management LLC boosted its holdings in HSBC by 7,993.9% in the fourth quarter. Lazard Asset Management LLC now owns 1,615,953 shares of the financial services provider’s stock valued at $50,353,000 after acquiring an additional 1,595,988 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in HSBC by 62.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,738,851 shares of the financial services provider’s stock valued at $127,944,000 after acquiring an additional 1,443,765 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in HSBC by 167.4% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 842,864 shares of the financial services provider’s stock valued at $33,259,000 after acquiring an additional 527,677 shares during the last quarter. Institutional investors own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BNP Paribas cut HSBC from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 16th. Barclays restated an “equal weight” rating on shares of HSBC in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $811.00.

HSBC Stock Down 1.8 %

Shares of HSBC stock opened at $39.00 on Thursday. The business’s 50 day simple moving average is $38.85 and its 200 day simple moving average is $38.92. HSBC Holdings plc has a 52-week low of $33.25 and a 52-week high of $42.47. The firm has a market cap of $149.03 billion, a PE ratio of 6.84, a P/E/G ratio of 0.94 and a beta of 0.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.90 and a current ratio of 0.90.

HSBC (NYSE:HSBC) last posted its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.33). HSBC had a return on equity of 12.89% and a net margin of 19.02%. The company had revenue of $13.02 billion for the quarter. On average, analysts predict that HSBC Holdings plc will post 7.24 earnings per share for the current fiscal year.

HSBC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Friday, March 8th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 15.90%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio is currently 108.42%.

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.