Pictet Asset Management Holding SA lessened its holdings in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT – Free Report) by 2.2% in the third quarter, HoldingsChannel reports. The fund owned 481,488 shares of the company’s stock after selling 10,914 shares during the period. Pictet Asset Management Holding SA’s holdings in Hilton Worldwide were worth $153,171,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Frazier Financial Advisors LLC bought a new stake in shares of Hilton Worldwide during the second quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new stake in Hilton Worldwide in the 2nd quarter valued at about $26,000. Trust Co. of Vermont acquired a new stake in Hilton Worldwide during the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its stake 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 worth $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Continuum Advisory LLC acquired a new position in shares of Hilton Worldwide in the 2nd quarter valued at $31,000. Institutional investors own 95.90% of the company’s stock.
Wall Street Analysts Forecast Growth
HLT has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Hilton Worldwide from $360.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, October 28th. Wells Fargo & Company raised their price objective on shares of Hilton Worldwide from $383.00 to $386.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Mizuho raised shares of Hilton Worldwide from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $329.00 to $421.00 in a research note on Thursday, October 29th. Evercore upgraded shares of Hilton Worldwide from an “in-line” rating to an “outperform” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley boosted their target price on shares of Hilton Worldwide from $349.00 to $362.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.08.
Read Our Latest Research Report on HLT
Hilton Worldwide Stock Performance
Shares of NYSE:HLT opened at $370.45 on Monday. The firm has a market cap of $82.43 billion, a price-to-earnings ratio of 50.06, a P/E/G ratio of 2.95 and a beta of 1.08. Hilton Worldwide Holdings Inc. has a 1 year low of $263.95 and a 1 year high of $381.34. The business has a fifty day simple moving average of $329.03 and a 200 day simple moving average of $322.52.
Hilton Worldwide (NYSE:HLT – Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.08. Hilton Worldwide had a negative return on equity of 33.78% and a net margin of 13.40%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that Hilton Worldwide Holdings Inc. will post 9.17 EPS for the current year.
Hilton Worldwide Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, December 1st. Hilton Worldwide’s payout ratio is currently 8.11%.
Insider Activity at Hilton Worldwide
In related news, insider Kevin J. Jacobs sold 151,050 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 293,758 shares of the company’s stock, valued at approximately $104,633,662.02. This trade represents a 33.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chris Carr sold 439 shares of Hilton Worldwide stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $310.34, for a total transaction of $136,239.26. Following the completion of the sale, the director owned 8,252 shares of the company’s stock, valued at $2,560,925.68. This trade represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 158,778 shares of company stock valued at $56,196,944. 2.70% of the stock is owned by corporate insiders.
Hilton Worldwide Company 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.
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