Miracle Mile Advisors LLC Has $1.08 Million Stock Position in HSBC Holdings plc (NYSE:HSBC)

Miracle Mile Advisors LLC trimmed its position in HSBC Holdings plc (NYSE:HSBC) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,782 shares of the financial services provider’s stock after selling 403 shares during the quarter. Miracle Mile Advisors LLC’s holdings in HSBC were worth $1,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of HSBC in the 4th quarter worth $1,962,000. Allspring Global Investments Holdings LLC increased its position in shares of HSBC by 49.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,477 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 824 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of HSBC by 57.9% in the 4th quarter. Cerity Partners LLC now owns 45,982 shares of the financial services provider’s stock worth $1,864,000 after acquiring an additional 16,866 shares during the last quarter. Simplicity Solutions LLC lifted its position in HSBC by 11.7% in the 4th quarter. Simplicity Solutions LLC now owns 6,424 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 675 shares in the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in HSBC during the 4th quarter worth approximately $209,000. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of HSBC stock traded up $0.43 during trading on Friday, hitting $42.76. The company’s stock had a trading volume of 1,198,222 shares, compared to its average volume of 1,870,844. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65. The company has a market cap of $160.39 billion, a PE ratio of 7.37, a P/E/G ratio of 0.92 and a beta of 0.58. The business has a fifty day moving average of $43.10 and a 200-day moving average of $41.75. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $45.53.

HSBC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, August 16th. HSBC’s dividend payout ratio is presently 34.14%.

Analyst Ratings Changes

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, HSBC has an average rating of “Hold”.

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.