OMERS ADMINISTRATION Corp Makes New Investment in HP Inc. $HPQ

OMERS ADMINISTRATION Corp acquired a new position in HP Inc. (NYSE:HPQ) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 178,172 shares of the computer maker’s stock, valued at approximately $3,909,000.

Other large investors have also recently made changes to their positions in the company. Baird Financial Group Inc. increased its holdings in HP by 13.1% in the 2nd quarter. Baird Financial Group Inc. now owns 114,169 shares of the computer maker’s stock worth $2,793,000 after acquiring an additional 13,265 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in HP by 2.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker’s stock worth $519,000 after acquiring an additional 551 shares during the period. Daiwa Securities Group Inc. lifted its holdings in HP by 6.4% during the second quarter. Daiwa Securities Group Inc. now owns 145,337 shares of the computer maker’s stock valued at $3,555,000 after purchasing an additional 8,779 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in HP by 70.5% during the second quarter. Treasurer of the State of North Carolina now owns 731,574 shares of the computer maker’s stock valued at $17,894,000 after purchasing an additional 302,578 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new position in shares of HP in the second quarter worth approximately $233,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Price Performance

HP stock opened at $29.56 on Wednesday. HP Inc. has a 1 year low of $17.56 and a 1 year high of $32.19. The firm’s 50 day moving average price is $25.96 and its 200-day moving average price is $22.55. The stock has a market cap of $27.04 billion, a P/E ratio of 10.91, a PEG ratio of 4.74 and a beta of 1.17.

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

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 annualized dividend and a yield of 4.1%. HP’s payout ratio is presently 44.28%.

Insider Activity at HP

In other news, insider David P. Mcquarrie sold 21,048 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the transaction, the insider owned 39,580 shares in the company, valued at $1,186,608.40. This trade represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HPQ shares. Bank of America increased their price objective on shares of HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a research note on Thursday, May 28th. TD Cowen upped their target price on shares of HP from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. increased their price target on HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Evercore set a $32.00 price objective on HP in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target 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.