Denali Advisors LLC reduced its position in shares of HP Inc. (NYSE:HPQ) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 626,400 shares of the computer maker’s stock after selling 5,700 shares during the period. HP accounts for 1.8% of Denali Advisors LLC’s portfolio, making the stock its 17th largest position. Denali Advisors LLC’s holdings in HP were worth $10,949,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Dodge & Cox purchased a new position in HP during the fourth quarter worth $2,073,164,000. Skandinaviska Enskilda Banken AB publ purchased a new position in HP during the first quarter worth $79,108,000. Renaissance Technologies LLC purchased a new position in HP during the first quarter worth $62,824,000. DnB Asset Management AS raised its position in HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock worth $70,430,000 after buying an additional 3,443,455 shares during the period. Finally, Morgan Stanley raised its position in HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock worth $131,121,000 after buying an additional 3,003,129 shares during the period. Hedge funds and other institutional investors own 78.97% of the company’s stock.
HP Inc. (HPQ) remained flat at $18.90 during midday trading on Friday. 6,609,939 shares of the company traded hands. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58. The firm’s 50 day moving average price is $18.50 and its 200 day moving average price is $17.79. The company has a market cap of $31.82 billion, a P/E ratio of 13.37 and a beta of 1.90.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $11.93 billion. During the same quarter last year, the firm earned $0.41 EPS. HP’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that HP Inc. will post $1.64 EPS for the current fiscal year.
The business also recently announced 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%.
HPQ has been the topic of several research analyst reports. Vetr lowered shares of HP from a “buy” rating to a “hold” rating and set a $19.72 target price on the stock. in a research report on Monday, June 5th. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Susquehanna Bancshares Inc initiated coverage on shares of HP in a research report on Thursday, July 13th. They set a “neutral” rating and a $20.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of HP from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 25th. Finally, Barclays PLC raised HP from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $22.00 in a research note on Wednesday, April 19th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.89.
In related news, Director Margaret C. Whitman sold 221,960 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the transaction, the director now owns 692,849 shares in the company, valued at approximately $13,413,556.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the transaction, the chief operating officer now owns 62,203 shares of the company’s stock, valued at approximately $1,135,826.78. The disclosure for this sale can be found here. Insiders have sold a total of 1,748,815 shares of company stock valued at $32,623,560 in the last 90 days. 0.62% of the stock is owned by corporate insiders.
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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