Axxcess Wealth Management LLC Sells 945 Shares of Hercules Capital, Inc. $HTGC

Axxcess Wealth Management LLC reduced its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 5.5% during the second quarter, Holdings Channel.com reports. The fund owned 16,232 shares of the financial services provider’s stock after selling 945 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Hercules Capital were worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HTGC. CWM LLC increased its stake in Hercules Capital by 79.6% in the 2nd quarter. CWM LLC now owns 1,381 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 612 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Hercules Capital in the 1st quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in Hercules Capital in the 2nd quarter worth about $33,000. Bessemer Group Inc. bought a new position in shares of Hercules Capital during the 1st quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Hercules Capital by 51.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,629 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 897 shares during the last quarter. 19.69% of the stock is currently owned by institutional investors.

Hercules Capital Price Performance

HTGC opened at $17.31 on Friday. The stock’s 50 day simple moving average is $18.84 and its 200 day simple moving average is $18.34. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 1.68. Hercules Capital, Inc. has a 1 year low of $15.65 and a 1 year high of $22.04. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 11.46 and a beta of 0.96.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Hercules Capital had a return on equity of 16.54% and a net margin of 51.46%.The business had revenue of $137.46 million for the quarter, compared to analyst estimates of $129.47 million. During the same period last year, the company earned $0.51 EPS. Hercules Capital’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 10.9%. The ex-dividend date was Tuesday, August 12th. This is a positive change from Hercules Capital’s previous quarterly dividend of $0.40. Hercules Capital’s dividend payout ratio is 105.96%.

Analyst Ratings Changes

Several equities analysts have recently commented on HTGC shares. UBS Group reduced their price objective on Hercules Capital from $19.00 to $18.50 and set a “neutral” rating on the stock in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Hercules Capital in a research report on Wednesday, October 8th. Piper Sandler reduced their price objective on Hercules Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Citigroup reiterated an “outperform” rating on shares of Hercules Capital in a research report on Monday, August 4th. Finally, JMP Securities increased their price objective on Hercules Capital from $22.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.42.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.