Portfolio Design Labs LLC Takes $229,000 Position in HSBC Holdings plc (NYSE:HSBC)

Portfolio Design Labs LLC bought a new stake in HSBC Holdings plc (NYSE:HSBC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,627 shares of the financial services provider's stock, valued at approximately $229,000.

A number of other institutional investors have also recently added to or reduced their stakes in HSBC. Cetera Investment Advisers increased its position in HSBC by 1.5% during the second quarter. Cetera Investment Advisers now owns 35,222 shares of the financial services provider's stock worth $1,532,000 after buying an additional 523 shares during the last quarter. Creative Planning lifted its holdings in HSBC by 9.4% in the 3rd quarter. Creative Planning now owns 222,092 shares of the financial services provider's stock worth $10,036,000 after purchasing an additional 19,165 shares during the last quarter. Naviter Wealth LLC lifted its holdings in HSBC by 2.8% in the 3rd quarter. Naviter Wealth LLC now owns 93,333 shares of the financial services provider's stock worth $4,218,000 after purchasing an additional 2,525 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its position in shares of HSBC by 3.1% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 22,618 shares of the financial services provider's stock valued at $1,022,000 after purchasing an additional 675 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in HSBC by 10.2% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,740 shares of the financial services provider's stock valued at $305,000 after buying an additional 622 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Stock Performance

Shares of NYSE:HSBC traded down $0.12 during trading on Friday, hitting $55.08. 1,169,831 shares of the stock were exchanged, compared to its average volume of 1,355,791. The company has a market capitalization of $197.26 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96. HSBC Holdings plc has a 1-year low of $36.93 and a 1-year high of $55.36. The company's fifty day simple moving average is $50.47 and its 200-day simple moving average is $46.63.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of HSBC from a "buy" rating to a "hold" rating in a report on Monday, February 3rd.

About HSBC

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.