Avantax Advisory Services Inc. recently made a significant strategic move, substantially increasing its investment in Hilton Worldwide Holdings Inc., signaling notable confidence in the global hospitality leader.
According to its latest SEC filing, the investment firm expanded its holdings in Hilton by 10.2% during the first quarter, acquiring an additional 547 shares. This brings Avantax’s total ownership to 5,898 shares of Hilton Worldwide stock, valued at $1,342,000 at the end of the most recent quarter.
This increase by Avantax is part of a broader trend among institutional investors adjusting their positions in Hilton. Firms such as ORG Partners LLC, Beacon Capital Management LLC, Valley National Advisers Inc., and Optiver Holding B.V. also boosted their stakes, demonstrating widespread interest in the company’s share performance.
Brokerage firms have been actively evaluating Hilton Worldwide’s prospects, with several analysts offering revised price targets and ratings. While some, like Barclays and Morgan Stanley, adjusted their price targets slightly downwards, they maintained “overweight” ratings, underscoring a generally positive outlook. Conversely, Jefferies Financial Group and Dbs Bank upgraded their ratings, highlighting the diverse expert opinions on the stock’s potential.
Hilton Worldwide Holdings Inc. shares opened at $260.79 recently, trading within a 12-month range of $196.04 to $279.46. The stock’s technical indicators show a 50-day moving average price of $261.36 and a 200-day moving average price of $247.74, with a robust market capitalization of $61.34 billion, reflecting its substantial presence in the market.
The company recently reported strong quarterly earnings, surpassing consensus estimates with $2.20 earnings per share, exceeding the projected $2.04. Revenue for the quarter reached $3.14 billion, also outperforming analysts’ expectations, showcasing a 6.3% year-over-year growth and reinforcing the company’s solid financial performance.
In a move that benefits shareholders, Hilton Worldwide recently declared a quarterly dividend of $0.15 per share, payable later this quarter. This translates to an annualized dividend of $0.60, providing a yield of 0.2% and reflecting the company’s commitment to returning value to its investors.
Hilton Worldwide Holdings Inc. operates as a global hospitality company, managing, franchising, owning, and leasing a diverse portfolio of hotels and resorts. Its extensive brand lineup spans luxury, lifestyle, full-service, and economy segments, including renowned names like Waldorf Astoria, Hilton Hotels & Resorts, and Hampton by Hilton, catering to a wide array of travelers.
