Morse Asset Management Inc Grows Stake in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Morse Asset Management Inc boosted its holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 3.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,675 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Morse Asset Management Inc’s holdings in Hilton Worldwide were worth $617,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new position in shares of Hilton Worldwide in the 3rd quarter valued at $25,000. EdgeRock Capital LLC purchased a new position in shares of Hilton Worldwide during the second quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Hilton Worldwide during the third quarter worth about $38,000. NewSquare Capital LLC purchased a new stake in shares of Hilton Worldwide in the 2nd quarter valued at about $37,000. Finally, Family Firm Inc. acquired a new stake in shares of Hilton Worldwide in the 2nd quarter valued at about $38,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Hilton Worldwide Trading Up 0.2 %

Shares of Hilton Worldwide stock opened at $251.02 on Wednesday. The company has a 50-day moving average of $241.23 and a two-hundred day moving average of $222.87. The stock has a market cap of $61.19 billion, a PE ratio of 53.87, a price-to-earnings-growth ratio of 3.15 and a beta of 1.30. Hilton Worldwide Holdings Inc. has a 12-month low of $166.92 and a 12-month high of $255.86.

Hilton Worldwide (NYSE:HLT) last posted its earnings results on Wednesday, October 23rd. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. Hilton Worldwide had a negative return on equity of 60.85% and a net margin of 10.70%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned $1.67 earnings per share. Hilton Worldwide’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.

Hilton Worldwide declared that its board has authorized a share buyback program on Thursday, November 14th that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hilton Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. Hilton Worldwide’s dividend payout ratio is currently 12.88%.

Insider Activity

In other news, insider Laura Fuentes sold 4,919 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $217.00, for a total value of $1,067,423.00. Following the transaction, the insider now owns 15,949 shares of the company’s stock, valued at approximately $3,460,933. This trade represents a 23.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael W. Duffy sold 14,357 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $235.73, for a total value of $3,384,375.61. Following the completion of the transaction, the insider now directly owns 22,833 shares in the company, valued at $5,382,423.09. This trade represents a 38.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

HLT has been the subject of a number of research reports. Truist Financial boosted their price objective on Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hilton Worldwide from $185.00 to $181.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Melius Research restated a “hold” rating on shares of Hilton Worldwide in a research note on Monday, October 21st. Melius lowered Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Barclays reduced their price objective on Hilton Worldwide from $244.00 to $243.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Hilton Worldwide currently has an average rating of “Hold” and an average target price of $228.71.

About Hilton Worldwide

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.