AMP Capital Investors Ltd boosted its position in shares of HP Inc. (NYSE:HPQ) by 34.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,313,218 shares of the computer maker’s stock after buying an additional 594,024 shares during the period. AMP Capital Investors Ltd’s holdings in HP were worth $35,602,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. FineMark National Bank & Trust raised its position in shares of HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock valued at $109,000 after buying an additional 168 shares during the period. Acrospire Investment Management LLC raised its position in shares of HP by 9.6% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the computer maker’s stock valued at $124,000 after buying an additional 700 shares during the period. Cedar Wealth Management LLC raised its position in shares of HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock valued at $131,000 after buying an additional 220 shares during the period. Nikko Asset Management Americas Inc. acquired a new position in shares of HP during the third quarter valued at about $140,000. Finally, Integrated Wealth Management raised its position in shares of HP by 3.4% in the third quarter. Integrated Wealth Management now owns 9,236 shares of the computer maker’s stock valued at $143,000 after buying an additional 304 shares during the period. 78.41% of the stock is currently owned by hedge funds and other institutional investors.
HP Inc. (NYSE:HPQ) opened at 15.72 on Friday. HP Inc. has a 52-week low of $9.45 and a 52-week high of $16.25. The company has a market capitalization of $26.81 billion, a price-to-earnings ratio of 10.98 and a beta of 1.52. The company’s 50-day moving average price is $15.01 and its 200 day moving average price is $14.89.
HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that HP Inc. will post $1.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 8th will be given a $0.1327 dividend. The ex-dividend date of this dividend is Monday, March 6th. This represents a $0.53 annualized dividend and a dividend yield of 3.38%. HP’s payout ratio is 37.32%.
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Several equities analysts have issued reports on HPQ shares. Jefferies Group LLC downgraded HP from a “buy” rating to a “hold” rating in a report on Wednesday, November 23rd. Vetr upgraded HP from a “buy” rating to a “strong-buy” rating and set a $17.76 price objective for the company in a report on Monday, November 28th. Wells Fargo & Company restated an “outperform” rating and set a $14.50 price objective on shares of HP in a report on Wednesday, November 23rd. Guggenheim began coverage on HP in a report on Wednesday, January 4th. They set a “neutral” rating for the company. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of HP in a report on Sunday, January 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.71.
In other news, insider Ron Coughlin sold 113,503 shares of the business’s stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $15.78, for a total value of $1,791,077.34. Following the transaction, the insider now directly owns 169,288 shares in the company, valued at $2,671,364.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kim M. Rivera sold 14,220 shares of the business’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $15.85, for a total value of $225,387.00. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.
HP Company Profile
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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