Cornerstone Wealth Management LLC Sells 272 Shares of HSBC Holdings plc (NYSE:HSBC)

Cornerstone Wealth Management LLC decreased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,891 shares of the financial services provider’s stock after selling 272 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in HSBC were worth $221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in HSBC by 4.6% during the second quarter. American Century Companies Inc. now owns 850,842 shares of the financial services provider’s stock worth $37,012,000 after buying an additional 37,781 shares during the period. Natixis Advisors LLC lifted its stake in shares of HSBC by 22.1% during the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock worth $18,000,000 after purchasing an additional 74,980 shares during the last quarter. Raymond James & Associates boosted its position in HSBC by 2.6% during the second quarter. Raymond James & Associates now owns 361,416 shares of the financial services provider’s stock valued at $15,722,000 after purchasing an additional 9,323 shares in the last quarter. QRG Capital Management Inc. grew its stake in HSBC by 19.0% in the second quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock valued at $13,180,000 after purchasing an additional 48,366 shares during the last quarter. Finally, Creative Planning lifted its position in shares of HSBC by 9.4% during the third quarter. Creative Planning now owns 222,092 shares of the financial services provider’s stock valued at $10,036,000 after buying an additional 19,165 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors.

HSBC Stock Up 0.8 %

HSBC stock opened at $44.72 on Friday. The business has a fifty day moving average price of $43.98 and a 200-day moving average price of $43.41. HSBC Holdings plc has a 1-year low of $35.30 and a 1-year high of $46.07. The stock has a market capitalization of $167.74 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.89 and a beta of 0.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share (EPS) for the quarter. The firm had revenue of $16.54 billion for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. Equities research analysts forecast that HSBC Holdings plc will post 6.22 EPS for the current fiscal year.

HSBC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Friday, August 16th. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

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.