Cornerstone Advisors LLC acquired a new stake in Hilton Worldwide Holdings Inc. (NYSE:HLT – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 53,256 shares of the company’s stock, valued at approximately $17,599,000.
Other large investors also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in shares of Hilton Worldwide in the 2nd quarter worth $26,000. Trust Co. of Vermont acquired a new position in shares of Hilton Worldwide during the second quarter valued at about $26,000. Elevation Wealth Partners LLC raised its holdings in shares of Hilton Worldwide by 1,128.6% in the second quarter. Elevation Wealth Partners LLC now owns 86 shares of the company’s stock worth $28,000 after buying an additional 79 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Hilton Worldwide in the 4th quarter worth $26,000. Finally, Wilkerson Advisory Group LLC raised its stake in shares of Hilton Worldwide by 163.2% in the first quarter. Wilkerson Advisory Group LLC now owns 100 shares of the company’s stock worth $30,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.
Hilton Worldwide Stock Performance
Hilton Worldwide stock opened at $326.88 on Tuesday. The company’s 50 day simple moving average is $331.05 and its 200-day simple moving average is $320.86. Hilton Worldwide Holdings Inc. has a 1 year low of $253.54 and a 1 year high of $358.00. The company has a market capitalization of $73.57 billion, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05.
Hilton Worldwide Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 21st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, August 21st. Hilton Worldwide’s dividend payout ratio (DPR) is currently 8.81%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on HLT shares. Weiss Ratings cut shares of Hilton Worldwide from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Barclays upped their target price on Hilton Worldwide from $367.00 to $368.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Bank of America upped their price target on shares of Hilton Worldwide from $324.00 to $375.00 in a research report on Monday, April 27th. Rothschild & Co Redburn raised their price objective on Hilton Worldwide from $320.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, UBS Group reissued a “buy” rating and issued a $363.00 target price on shares of Hilton Worldwide in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.82.
About Hilton Worldwide
Hilton Worldwide Holdings Inc is a global hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. Its business spans full-service luxury and lifestyle properties, select- and focused-service hotels, and extended-stay accommodations. The company generates revenue through management and franchise fees, owned and leased real estate, and guest services, and supports customer retention and direct bookings through its Hilton Honors guest loyalty program.
Hilton’s brand portfolio includes internationally recognized names across the lodging spectrum, from luxury and upper-upscale brands to midscale and extended-stay offerings.
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