Concord Wealth Partners Invests $28,000 in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Posted by Defense World Staff on Apr 15th, 2023

Concord Wealth Partners bought a new stake in Hilton Worldwide Holdings Inc. (NYSE:HLT – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 222 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds also recently bought and sold shares of HLT. Natixis Advisors L.P. lifted its holdings in shares of Hilton Worldwide by 12.1% in the 4th quarter. Natixis Advisors L.P. now owns 162,035 shares of the company’s stock worth $20,475,000 after acquiring an additional 17,480 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Hilton Worldwide by 5.9% during the third quarter. Jennison Associates LLC now owns 308,250 shares of the company’s stock worth $37,181,000 after buying an additional 17,049 shares during the period. Fred Alger Management LLC grew its stake in shares of Hilton Worldwide by 229.8% in the third quarter. Fred Alger Management LLC now owns 50,403 shares of the company’s stock valued at $6,080,000 after buying an additional 35,121 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Hilton Worldwide by 231.4% in the 3rd quarter. IFP Advisors Inc now owns 5,083 shares of the company’s stock valued at $524,000 after buying an additional 3,549 shares during the period. Finally, Prudential PLC lifted its stake in Hilton Worldwide by 9.4% during the 3rd quarter. Prudential PLC now owns 4,280 shares of the company’s stock worth $516,000 after acquiring an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Hilton Worldwide Stock Performance

HLT opened at $144.31 on Friday. Hilton Worldwide Holdings Inc. has a one year low of $108.41 and a one year high of $167.99. The company has a market cap of $38.36 billion, a P/E ratio of 31.79, a PEG ratio of 0.66 and a beta of 1.23. The business’s 50-day simple moving average is $142.49 and its 200-day simple moving average is $136.10.

Hilton Worldwide (NYSE:HLT – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.39. Hilton Worldwide had a negative return on equity of 155.17% and a net margin of 14.31%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, analysts predict that Hilton Worldwide Holdings Inc. will post 5.69 earnings per share for the current fiscal year.

Hilton Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Tuesday, February 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.60 dividend on an annualized basis and a yield of 0.42%. Hilton Worldwide’s dividend payout ratio (DPR) is presently 13.22%.

Insider Buying and Selling at Hilton Worldwide

In other news, insider Kristin Ann Campbell sold 32,863 shares of Hilton Worldwide stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $150.93, for a total transaction of $4,960,012.59. Following the sale, the insider now owns 221,037 shares in the company, valued at $33,361,114.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on HLT. Jefferies Financial Group downgraded Hilton Worldwide from a “buy” rating to a “hold” rating and dropped their target price for the company from $153.00 to $134.00 in a research report on Monday, January 9th. Wells Fargo & Company cut their target price on shares of Hilton Worldwide from $154.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 30th. Truist Financial raised their price target on shares of Hilton Worldwide from $147.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, February 10th. Morgan Stanley cut their price objective on Hilton Worldwide from $171.00 to $167.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 7th. Finally, Robert W. Baird lifted their target price on Hilton Worldwide from $158.00 to $159.00 and gave the company an “outperform” rating in a report on Monday, February 27th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.73.

Hilton Worldwide Company Profile

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Hilton Worldwide Holdings, Inc engages in the provision of hospitality businesses. It operates through the following segments: Ownership and Management & Franchise. The Ownership segment includes owned, leased, and joint venture hotels. The Management and Franchise segment operates hotels of third-party owners.