Marshall Wace North America L.P. acquired a new position in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 612,975 shares of the computer maker’s stock, valued at approximately $11,034,000.
Several other institutional investors have also recently made changes to their positions in HPQ. MARSHALL WACE ASIA Ltd purchased a new position in shares of HP during the first quarter worth $11,034,000. Global X Management Co. LLC boosted its position in shares of HP by 28.4% in the first quarter. Global X Management Co. LLC now owns 13,634 shares of the computer maker’s stock worth $244,000 after buying an additional 3,019 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of HP by 1,201.3% in the first quarter. Loomis Sayles & Co. L P now owns 17,893 shares of the computer maker’s stock worth $320,000 after buying an additional 16,518 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in shares of HP during the first quarter worth $223,000. 80.37% of the stock is currently owned by institutional investors.
HP Inc. (NYSE HPQ) opened at 17.80 on Monday. The stock has a 50 day moving average price of $18.61 and a 200-day moving average price of $16.99. HP Inc. has a 1-year low of $11.48 and a 1-year high of $19.58. The stock has a market cap of $29.96 billion, a PE ratio of 12.59 and a beta of 1.76.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. HP’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that HP Inc. will post $1.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be paid a $0.1327 dividend. The ex-dividend date is Monday, June 12th. This represents a $0.53 annualized dividend and a yield of 2.98%. HP’s dividend payout ratio (DPR) is currently 37.32%.
A number of equities analysts recently weighed in on the company. BidaskClub cut HP from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Vetr cut HP from a “buy” rating to a “hold” rating and set a $19.72 price objective on the stock. in a report on Monday, June 5th. FBN Securities reissued an “outperform” rating and set a $23.00 price objective (up from $19.00) on shares of HP in a report on Sunday, May 28th. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price objective on shares of HP in a report on Friday, May 26th. Finally, Jefferies Group LLC raised their price objective on HP from $17.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, May 25th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. HP presently has a consensus rating of “Hold” and a consensus target price of $19.64.
In other HP news, CFO Catherine A. Lesjak sold 120,000 shares of the stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total transaction of $2,176,800.00. Following the sale, the chief financial officer now owns 120,000 shares of the company’s stock, valued at approximately $2,176,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Catherine A. Lesjak sold 719,775 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $17.60, for a total value of $12,668,040.00. Following the sale, the chief financial officer now directly owns 599,775 shares in the company, valued at approximately $10,556,040. The disclosure for this sale can be found here. In the last three months, insiders sold 1,163,143 shares of company stock worth $20,762,933. 0.62% 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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