Hilton Worldwide Holdings Inc. $HLT Stock: Pictet Asset Management Holding SA Reduces Holdings

Pictet Asset Management Holding SA reduced its position in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 481,488 shares of the company’s stock after selling 10,914 shares during the quarter. Pictet Asset Management Holding SA owned about 0.22% of Hilton Worldwide worth $153,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new stake in shares of Hilton Worldwide in the second quarter worth about $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Hilton Worldwide in the second quarter valued at about $26,000. Trust Co. of Vermont acquired a new stake in shares of Hilton Worldwide in the second quarter valued at about $26,000. Elevation Wealth Partners LLC raised its holdings in shares of Hilton Worldwide by 1,128.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 86 shares of the company’s stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Wilkerson Advisory Group LLC raised its holdings in shares of Hilton Worldwide by 163.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 100 shares of the company’s stock valued at $30,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Activity

In other news, insider Kevin Jacobs sold 151,050 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $356.19, for a total transaction of $53,802,499.50. Following the completion of the transaction, the insider owned 293,758 shares of the company’s stock, valued at approximately $104,633,662.02. The trade was a 33.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Laura Fuentes sold 7,289 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $309.81, for a total transaction of $2,258,205.09. Following the transaction, the insider owned 33,458 shares of the company’s stock, valued at $10,365,622.98. This represents a 17.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 158,778 shares of company stock valued at $56,196,944. 2.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Mizuho upgraded Hilton Worldwide from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $329.00 to $421.00 in a report on Thursday, October 29th. Freedom Broker began coverage on shares of Hilton Worldwide in a research report on Wednesday, October 14th. They issued a “buy” rating and a $359.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Hilton Worldwide from $365.00 to $387.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Argus set a $410.00 target price on shares of Hilton Worldwide and gave the stock a “buy” rating in a research report on Friday, October 30th. Finally, CICC Research started coverage on shares of Hilton Worldwide in a research note on Wednesday, August 12th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.08.

Hilton Worldwide Stock Performance

Shares of HLT stock opened at $370.45 on Monday. The stock has a market capitalization of $82.43 billion, a price-to-earnings ratio of 50.06, a PEG ratio of 2.95 and a beta of 1.08. Hilton Worldwide Holdings Inc. has a one year low of $263.95 and a one year high of $381.34. The company’s 50-day simple moving average is $329.03 and its 200-day simple moving average is $322.52.

Hilton Worldwide (NYSE:HLT) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $3.37 billion. Hilton Worldwide had a negative return on equity of 33.78% and a net margin of 13.40%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 EPS. As a group, research analysts forecast that Hilton Worldwide Holdings Inc. will post 9.17 EPS for the current year.

Hilton Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 1st will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.60 annualized dividend and a yield of 0.2%. Hilton Worldwide’s dividend payout ratio (DPR) is currently 8.11%.

Hilton Worldwide Profile

Hilton Worldwide Holdings Inc is a global hospitality company that develops, manages, franchises and licenses hotels and resorts. Its portfolio serves a range of travelers, from luxury and leisure guests to business travelers and extended-stay customers. Hilton also operates a vacation ownership business through Hilton Grand Vacations under a long-term brand and licensing relationship.

The company’s brands include Waldorf Astoria, Conrad, Hilton Hotels & Resorts, DoubleTree, Embassy Suites, Hilton Garden Inn, Hampton, Homewood Suites and Hilton Honors, its guest loyalty program.