CIBC World Markets Inc. increased its holdings in shares of HP Inc. (NYSE:HPQ) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,674 shares of the computer maker’s stock after purchasing an additional 2,635 shares during the period. CIBC World Markets Inc.’s holdings in HP were worth $3,036,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in shares of HP during the first quarter valued at approximately $833,000. ZWJ Investment Counsel Inc. bought a new position in shares of HP during the first quarter valued at approximately $443,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of HP by 106.5% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after purchasing an additional 754,019 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of HP by 2.4% during the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after purchasing an additional 6,074 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of HP during the first quarter valued at approximately $112,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.
HP Inc. (NYSE:HPQ) opened at 19.12 on Monday. The company’s 50 day moving average is $19.13 and its 200 day moving average is $18.31. The stock has a market cap of $32.14 billion, a PE ratio of 13.90 and a beta of 1.93. HP Inc. has a one year low of $13.77 and a one year high of $19.78.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. HP’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts expect that HP Inc. will post $1.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.78%. HP’s dividend payout ratio (DPR) is 38.41%.
A number of research firms have recently issued reports on HPQ. Jefferies Group LLC reiterated a “hold” rating and set a $20.00 price objective (up from $19.00) on shares of HP in a research note on Tuesday, September 5th. Deutsche Bank AG reiterated a “buy” rating on shares of HP in a research note on Thursday, August 24th. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $20.00 price objective on shares of HP in a research note on Friday, August 25th. FBN Securities reiterated an “outperform” rating and set a $25.00 price objective (up from $23.00) on shares of HP in a research note on Thursday, August 24th. Finally, Mizuho reiterated a “buy” rating and set a $21.00 price objective on shares of HP in a research note on Thursday, August 24th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.57.
In related news, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the completion of the sale, the director now owns 544,881 shares in the company, valued at approximately $9,644,393.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Marie Myers sold 12,119 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the sale, the insider now owns 5,621 shares of the company’s stock, valued at approximately $101,571.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,725,567 shares of company stock valued at $32,210,686. 0.62% of the stock is owned by insiders.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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