Assetmark Inc. Reduces Stake in HCA Healthcare Holdings
Assetmark Inc. has decreased its holdings in HCA Healthcare, Inc. (NYSE: HCA) by 0.6% during the first quarter of 2023. According to its most recent Form 13F filing with the Securities and Exchange Commission, Assetmark now owns 9,873 shares, having sold 63 shares during this period. As of the end of the quarter, the value of these holdings stood at approximately $3.41 million.
Several other institutional investors have also adjusted their positions in HCA Healthcare. Notably, Sanders Capital LLC increased its stake by 1.0% in the fourth quarter, now holding 11,655,563 shares, valued at $3.50 billion. Geode Capital Management LLC raised its holdings by 1.3%, owning 3,871,057 shares worth $1.16 billion. Similarly, Capital World Investors expanded its investment by 0.7%, now holding 2,928,452 shares valued at $879 million.
Northern Trust Corp made a significant move, increasing its stake by 12.4%, which resulted in a total of 2,017,971 shares worth $605.69 million. Nuveen Asset Management LLC also grew its stake by 4.5%, owning 1,865,771 shares valued at $560 million. Collectively, hedge funds and other institutional investors now control approximately 62.73% of HCA’s stock.
In related news, HCA Healthcare’s Chief Operating Officer, Jon M. Foster, sold 15,698 shares on May 13, 2023. The shares were sold at an average price of $369.32, totaling $5.80 million. Following this transaction, Foster owns 12,646 shares valued at $4.67 million, reflecting a decrease of 55.38% in his ownership. This sale has been duly disclosed in documents filed with the SEC, which can be accessed via their official website.
HCA Healthcare Financial Performance
On July 25, 2023, HCA Healthcare reported its earnings for the second quarter, revealing earnings per share (EPS) of $6.84, exceeding analysts’ consensus estimates of $6.20 by $0.64. The company generated $18.61 billion in revenue, surpassing expectations of $18.49 billion. Notably, HCA Healthcare’s quarterly revenue increased by 6.4% year-over-year, compared to $5.50 EPS from the same quarter in the previous year.
Despite this positive financial news, HCA Healthcare reported a negative return on equity of 7,363.11% and a net margin of 8.21%. The company’s market capitalization currently stands at $82.88 billion, with a price-to-earnings (P/E) ratio of 14.48.
As for stock performance, shares of HCA Healthcare opened at $344.52 on Wednesday. Key financial ratios include a current ratio of 0.98, a quick ratio of 0.86, and a debt-to-equity ratio of 69.07. The stock has fluctuated between a 12-month low of $289.98 and a 12-month high of $417.14, with a 50-day moving average of $372.05 and a 200-day moving average of $346.40.
Upcoming Dividend Announcement
HCA Healthcare also announced a quarterly dividend to be paid on September 30, 2023. Shareholders of record on September 16, 2023, will receive a dividend of $0.72 per share. This dividend represents an annualized payout of $2.88 and yields 0.84%. The company’s dividend payout ratio is currently 12.11%.
HCA Healthcare, Inc. operates a network of hospitals and healthcare facilities across the United States, providing a wide range of medical and surgical services, including inpatient and outpatient care. For more information on HCA Healthcare and recent transactions, interested parties can visit HoldingsChannel.com for the latest 13F filings and insider trades.
