Bank OZK reduced its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT – Free Report) by 34.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,870 shares of the company’s stock after selling 2,511 shares during the quarter. Bank OZK’s holdings in Hilton Worldwide were worth $1,609,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of HLT. Frazier Financial Advisors LLC purchased a new stake in shares of Hilton Worldwide in the 2nd quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Hilton Worldwide during the 2nd quarter valued at $26,000. Trust Co. of Vermont purchased a new stake in shares of Hilton Worldwide in the second quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Hilton Worldwide in the fourth quarter worth $26,000. Finally, Elevation Wealth Partners LLC raised its position in Hilton Worldwide by 1,128.6% during the second quarter. Elevation Wealth Partners LLC now owns 86 shares of the company’s stock valued at $28,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.
Hilton Worldwide Stock Down 2.1%
Shares of HLT traded down $6.46 during midday trading on Tuesday, reaching $304.72. 1,662,977 shares of the stock were exchanged, compared to its average volume of 1,933,349. The company has a market cap of $68.58 billion, a price-to-earnings ratio of 44.75, a P/E/G ratio of 2.51 and a beta of 1.05. Hilton Worldwide Holdings Inc. has a 12-month low of $253.54 and a 12-month high of $358.00. The firm has a 50 day simple moving average of $324.68 and a 200-day simple moving average of $322.06.
Hilton Worldwide Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, August 21st. This represents a $0.60 annualized dividend and a dividend yield of 0.2%. Hilton Worldwide’s dividend payout ratio is 8.81%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on HLT shares. Susquehanna decreased their price objective on Hilton Worldwide from $353.00 to $345.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft raised shares of Hilton Worldwide from a “hold” rating to a “buy” rating and set a $365.00 price target for the company in a research report on Wednesday, August 12th. Barclays boosted their price objective on shares of Hilton Worldwide from $367.00 to $368.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wolfe Research started coverage on shares of Hilton Worldwide in a research note on Wednesday, September 2nd. They issued a “peer perform” rating on the stock. Finally, China Intl Cap upgraded shares of Hilton Worldwide to a “strong-buy” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Hilton Worldwide currently has an average rating of “Moderate Buy” and an average target price of $353.82.
View Our Latest Research Report on HLT
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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