HSBC Holdings plc (NYSE:HSBC) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC increased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,304 shares of the financial services provider’s stock after acquiring an additional 811 shares during the quarter. Parallel Advisors LLC’s holdings in HSBC were worth $263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Comerica Securities Inc. bought a new stake in HSBC during the fourth quarter valued at about $465,000. Geode Capital Management LLC grew its holdings in HSBC by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 499,248 shares of the financial services provider’s stock valued at $20,524,000 after purchasing an additional 83,620 shares during the period. Brinker Capital Inc. grew its holdings in HSBC by 19.3% during the first quarter. Brinker Capital Inc. now owns 18,447 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 2,981 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in HSBC during the first quarter valued at about $444,000. Finally, Oppenheimer & Co. Inc. grew its holdings in HSBC by 11.5% during the first quarter. Oppenheimer & Co. Inc. now owns 30,311 shares of the financial services provider’s stock valued at $1,230,000 after purchasing an additional 3,115 shares during the period. Hedge funds and other institutional investors own 2.51% of the company’s stock.

HSBC has been the subject of several recent research reports. Barclays lowered HSBC from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 17th. ValuEngine lowered HSBC from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Jefferies Financial Group lowered HSBC from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Morgan Stanley lowered HSBC from an “overweight” rating to an “equal weight” rating in a report on Friday, June 21st. Finally, Goldman Sachs Group upgraded HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 22nd. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. HSBC has a consensus rating of “Hold” and a consensus price target of $43.80.

Shares of HSBC stock traded up $0.02 during trading hours on Friday, hitting $36.22. The company’s stock had a trading volume of 382,609 shares, compared to its average volume of 3,578,765. The business has a 50 day moving average price of $39.65 and a two-hundred day moving average price of $41.28. HSBC Holdings plc has a 12-month low of $35.62 and a 12-month high of $45.40. The company has a market cap of $146.36 billion, a PE ratio of 11.50, a PEG ratio of 2.35 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.97.

About HSBC

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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