MUFG Americas Holdings Corp lowered its stake in HP Inc (NYSE:HPQ) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,542 shares of the computer maker’s stock after selling 2,913 shares during the period. MUFG Americas Holdings Corp’s holdings in HP were worth $1,440,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. APG Asset Management N.V. boosted its stake in shares of HP by 26.3% in the third quarter. APG Asset Management N.V. now owns 7,092,434 shares of the computer maker’s stock valued at $110,146,000 after buying an additional 1,478,333 shares in the last quarter. Huntington National Bank boosted its stake in shares of HP by 26.9% in the third quarter. Huntington National Bank now owns 162,936 shares of the computer maker’s stock valued at $2,530,000 after buying an additional 34,555 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of HP by 0.6% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 3,301,963 shares of the computer maker’s stock valued at $51,279,000 after buying an additional 19,968 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of HP during the third quarter valued at $1,190,000. Finally, Becker Capital Management Inc. boosted its stake in shares of HP by 1.7% in the third quarter. Becker Capital Management Inc. now owns 1,705,212 shares of the computer maker’s stock valued at $26,482,000 after buying an additional 28,240 shares in the last quarter. 78.94% of the stock is owned by hedge funds and other institutional investors.
HP Inc (NYSE:HPQ) traded up 1.06% during midday trading on Friday, reaching $18.98. The company had a trading volume of 4,626,786 shares. The firm has a market capitalization of $32.14 billion, a price-to-earnings ratio of 12.95 and a beta of 1.52. HP Inc has a 12-month low of $11.40 and a 12-month high of $19.49. The stock’s 50 day moving average is $18.48 and its 200 day moving average is $16.48.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, February 22nd. The computer maker reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The business had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $11.82 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that HP Inc will post $1.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.83%. HP’s dividend payout ratio is currently 37.32%.
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A number of analysts have recently commented on the company. Brean Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of HP in a research note on Monday, January 23rd. Jefferies Group LLC lowered their price target on HP from $16.75 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 24th. Mizuho reaffirmed a “neutral” rating and issued a $14.00 price target on shares of HP in a research note on Tuesday, January 24th. Zacks Investment Research cut HP from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 26th. Finally, Barclays PLC upped their price target on HP from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, February 23rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. HP has a consensus rating of “Buy” and a consensus target price of $18.38.
In other HP news, CFO Catherine A. Lesjak sold 719,775 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $17.60, for a total value of $12,668,040.00. Following the transaction, the chief financial officer now owns 599,775 shares of the company’s stock, valued at $10,556,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tracy S. Keogh sold 113,582 shares of the business’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $17.43, for a total value of $1,979,734.26. Following the completion of the transaction, the insider now directly owns 96,926 shares in the company, valued at approximately $1,689,420.18. The disclosure for this sale can be found here. In the last three months, insiders sold 1,093,741 shares of company stock worth $19,482,770. Insiders own 0.51% of the company’s stock.
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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