Deroy & Devereaux Private Investment Counsel Inc. lowered its position in shares of HP Inc. (NYSE:HPQ) by 0.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 646,534 shares of the computer maker’s stock after selling 1,820 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in HP were worth $11,301,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in HPQ. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of HP during the first quarter worth $79,108,000. Renaissance Technologies LLC acquired a new position in HP during the first quarter worth approximately $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 in the last quarter. 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 in the last quarter. Finally, Primecap Management Co. CA raised its position in HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares in the last quarter. Hedge funds and other institutional investors own 78.97% of the company’s stock.
HP Inc. (NYSE:HPQ) opened at 18.90 on Friday. The firm has a market capitalization of $31.82 billion, a PE ratio of 13.37 and a beta of 1.90. The company’s 50-day moving average price is $18.53 and its 200 day moving average price is $17.82. HP Inc. has a 12 month low of $13.55 and a 12 month high of $19.58.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that HP Inc. will post $1.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is 37.32%.
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A number of equities analysts have commented on HPQ shares. Vetr lowered HP from a “buy” rating to a “hold” rating and set a $19.72 price objective on the stock. in a research note on Monday, June 5th. ValuEngine raised HP from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Susquehanna Bancshares Inc began coverage on HP in a research note on Thursday, July 13th. They set a “neutral” rating and a $20.00 price target on the stock. Royal Bank Of Canada upped their price target on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research note on Thursday, May 25th. Finally, Barclays PLC raised HP from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. HP currently has an average rating of “Buy” and an average price target of $19.89.
In other news, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the completion of the sale, the director now owns 544,881 shares of the company’s stock, valued at approximately $9,655,291.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marie Myers sold 12,119 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total transaction of $218,990.33. Following the sale, the insider now directly owns 5,621 shares of the company’s stock, valued at approximately $101,571.47. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,748,815 shares of company stock valued at $32,623,560. Insiders own 0.62% 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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