Liberty Mutual Group Asset Management Inc. reduced its stake in shares of HP Inc. (NYSE:HPQ) by 30.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,568 shares of the computer maker’s stock after selling 40,495 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in HP were worth $1,637,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in HPQ. CWM LLC increased its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the period. YorkBridge Wealth Partners LLC increased its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares during the period. TrimTabs Asset Management LLC increased its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after buying an additional 3,264 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of HP by 24.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,452 shares of the computer maker’s stock valued at $133,000 after buying an additional 1,488 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of HP during the first quarter valued at about $150,000. 80.37% of the stock is currently owned by institutional investors.
HP Inc. (NYSE HPQ) opened at 17.77 on Wednesday. HP Inc. has a 1-year low of $11.48 and a 1-year high of $19.58. The company has a market capitalization of $29.91 billion, a P/E ratio of 12.57 and a beta of 1.76. The firm’s 50-day moving average is $18.61 and its 200-day moving average is $16.99.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that HP Inc. will post $1.64 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be given a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, June 12th. HP’s dividend payout ratio is 37.32%.
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Several analysts have issued reports on HPQ shares. Citigroup Inc. raised shares of HP from a “neutral” rating to a “buy” rating in a report on Tuesday, April 18th. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday, April 25th. Credit Suisse Group reissued a “buy” rating and issued a $19.00 price objective on shares of HP in a research report on Tuesday, May 23rd. Bank of America Corporation boosted their price objective on shares of HP from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, BMO Capital Markets boosted their price objective on shares of HP from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 25th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.69.
In other news, Director Margaret C. Whitman sold 147,968 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $18.00, for a total value of $2,663,424.00. Following the sale, the director now owns 618,857 shares in the company, valued at $11,139,426. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 73,992 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 1,311,111 shares of company stock worth $23,426,357. Insiders own 0.62% of the company’s stock.
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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