Arizona State Retirement System cut its position in shares of HP Inc. (NYSE:HPQ) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 549,576 shares of the computer maker’s stock after selling 12,000 shares during the period. Arizona State Retirement System’s holdings in HP were worth $9,607,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter worth about $112,000. YorkBridge Wealth Partners LLC raised its position 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 worth $118,000 after buying an additional 675 shares during the period. CWM LLC raised its position in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares during the period. First Command Bank raised its position in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after buying an additional 2,984 shares during the period. Finally, TrimTabs Asset Management LLC raised its position 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 worth $124,000 after buying an additional 3,264 shares during the period. Institutional investors and hedge funds own 78.97% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) opened at 18.90 on Friday. HP Inc. has a 1-year low of $13.55 and a 1-year high of $19.58. The stock’s 50 day moving average price is $18.50 and its 200-day moving average price is $17.79. The company has a market capitalization of $31.82 billion, a PE ratio of 13.37 and a beta of 1.90.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating 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 period last year, the firm posted $0.41 earnings per share. HP’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that HP Inc. will post $1.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.81%. HP’s dividend payout ratio (DPR) is presently 37.32%.
A number of brokerages recently issued reports on HPQ. UBS AG reiterated a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of HP in a report on Thursday, May 25th. BidaskClub lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada restated a “hold” rating and set a $21.00 price target on shares of HP in a report on Friday, July 14th. Citigroup Inc. set a $20.00 price target on shares of HP and gave the stock a “buy” rating in a report on Thursday, May 25th. Finally, Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and raised their price target for the stock from $20.00 to $21.00 in a report on Monday, July 10th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.89.
In related news, Director Margaret C. Whitman sold 443,920 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the sale, the director now directly owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jon E. Flaxman sold 35,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the sale, the chief operating officer now directly owns 62,203 shares in the company, valued at $1,135,826.78. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock worth $32,623,560 over the last ninety days. 0.62% of the stock is currently 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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