7,208 Shares in HSBC Holdings plc $HSBC Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC) in the third quarter, HoldingsChannel.com reports. The firm bought 7,208 shares of the financial services provider’s stock, valued at approximately $512,000.

Several other large investors also recently modified their holdings of HSBC. AE Wealth Management LLC boosted its position in HSBC by 2.2% in the third quarter. AE Wealth Management LLC now owns 7,531 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 162 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in shares of HSBC by 4.4% in the second quarter. Focus Partners Advisor Solutions LLC now owns 4,022 shares of the financial services provider’s stock worth $244,000 after buying an additional 168 shares during the last quarter. Moors & Cabot Inc. grew its position in HSBC by 2.7% during the second quarter. Moors & Cabot Inc. now owns 7,152 shares of the financial services provider’s stock valued at $435,000 after buying an additional 189 shares during the period. Lido Advisors LLC increased its holdings in HSBC by 3.1% during the second quarter. Lido Advisors LLC now owns 6,267 shares of the financial services provider’s stock valued at $381,000 after buying an additional 189 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its position in HSBC by 4.3% in the third quarter. Contravisory Investment Management Inc. now owns 5,184 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 212 shares during the period. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Up 1.8%

Shares of HSBC opened at $89.60 on Tuesday. The business’s 50 day moving average is $78.73 and its 200 day moving average is $71.32. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. HSBC Holdings plc has a 12-month low of $45.66 and a 12-month high of $89.63. The company has a market capitalization of $307.77 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research report on Friday, October 10th. Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Bank of America raised HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 10th. Keefe, Bruyette & Woods raised shares of HSBC from a “hold” rating to a “moderate buy” rating in a report on Wednesday, December 17th. Finally, Citigroup reaffirmed a “buy” rating on shares of HSBC in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, HSBC has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.