48,166 Shares in HP Inc. $HPQ Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of HP Inc. (NYSE:HPQ) in the second quarter, HoldingsChannel.com reports. The firm bought 48,166 shares of the computer maker’s stock, valued at approximately $1,057,000.

A number of other hedge funds also recently bought and sold shares of HPQ. BlackRock Inc. bought a new position in HP during the second quarter worth $2,357,757,000. DNB Asset Management AS increased its holdings in shares of HP by 242.2% during the 4th quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker’s stock worth $236,048,000 after purchasing an additional 7,498,202 shares during the period. Norges Bank acquired a new position in shares of HP during the fourth quarter valued at about $149,309,000. Deutsche Bank AG acquired a new stake in HP during the second quarter worth about $140,172,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in HP by 186.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker’s stock valued at $228,153,000 after acquiring an additional 5,449,691 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

In related news, insider David P. Mcquarrie sold 21,048 shares of HP stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the transaction, the insider directly owned 39,580 shares of the company’s stock, valued at $1,186,608.40. This trade represents a 34.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 52,620 shares of company stock worth $1,478,622. Company insiders own 0.18% of the company’s stock.

HP Price Performance

Shares of NYSE:HPQ opened at $29.56 on Wednesday. The business’s fifty day moving average price is $25.96 and its two-hundred day moving average price is $22.55. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $32.19. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 4.74 and a beta of 1.17.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period last year, the business earned $0.71 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. Research analysts expect that HP Inc. will post 3.03 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. HP’s dividend payout ratio (DPR) is 44.28%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HPQ shares. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley reduced their target price on HP from $19.00 to $17.00 and set an “underweight” rating for the company in a research report on Monday. The Goldman Sachs Group boosted their price target on shares of HP from $19.00 to $21.00 and gave the company a “sell” rating in a report on Wednesday, August 12th. TD Cowen raised their price objective on shares of HP from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company upped their target price on shares of HP from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $24.17.

HP Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.