Hartford Investment Management Co. raised its stake in shares of HP Inc. (NYSE:HPQ) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,201 shares of the computer maker’s stock after buying an additional 7,467 shares during the period. Hartford Investment Management Co.’s holdings in HP were worth $6,697,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of HPQ. IFP Advisors Inc increased its position in shares of HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock valued at $284,000 after buying an additional 72 shares during the period. Thompson Investment Management Inc. increased its position in shares of HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock valued at $510,000 after buying an additional 120 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of HP by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 54,120 shares of the computer maker’s stock valued at $840,000 after buying an additional 150 shares during the period. FineMark National Bank & Trust increased 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. Finally, Conning Inc. increased its position in shares of HP by 0.4% in the third quarter. Conning Inc. now owns 44,375 shares of the computer maker’s stock valued at $689,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) traded up 0.034% during mid-day trading on Wednesday, reaching $14.695. 4,787,060 shares of the company’s stock were exchanged. The company’s 50 day moving average is $15.27 and its 200 day moving average is $14.63. The stock has a market capitalization of $25.06 billion, a PE ratio of 10.262 and a beta of 1.54. HP Inc. has a 1-year low of $8.91 and a 1-year high of $16.25.
HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company earned $12.50 billion during the quarter, compared to analysts’ expectations of $11.89 billion. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. Equities research analysts anticipate that HP Inc. will post $1.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th were given a dividend of $0.1327 per share. The ex-dividend date of this dividend was Monday, December 12th. This is a boost from HP’s previous quarterly dividend of $0.12. This represents a $0.53 dividend on an annualized basis and a yield of 3.61%. HP’s dividend payout ratio is currently 37.32%.
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HPQ has been the subject of several recent analyst reports. Credit Suisse Group reaffirmed a “buy” rating and set a $19.00 price objective on shares of HP in a research note on Sunday, October 9th. Jefferies Group downgraded shares of HP from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Morgan Stanley reaffirmed a “buy” rating on shares of HP in a research note on Tuesday, September 13th. Vetr raised shares of HP from a “buy” rating to a “strong-buy” rating and set a $17.76 price target for the company in a research note on Monday, November 28th. Finally, Citigroup Inc. increased their price target on shares of HP from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 10th. Fifteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.64.
In other HP news, insider Ron Coughlin sold 113,503 shares of the company’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $15.78, for a total transaction of $1,791,077.34. Following the completion of the transaction, the insider now directly owns 169,288 shares in the company, valued at $2,671,364.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kim M. Rivera sold 14,220 shares of the company’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $15.85, for a total transaction of $225,387.00. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
HP Company Profile
HP Inc is a provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The Company operates through three segments: Personal Systems, Printing and Corporate Investments. The Company’s Personal Systems segment provides commercial personal computers (PCs), consumer PCs, workstations, thin client PCs, tablets, retail point-of-sale (POS) systems, calculators and other related accessories, software, support and services for the commercial and consumer markets.
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