Alps Advisors Inc. reduced its position in shares of HP Inc. (NYSE:HPQ) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,648,244 shares of the computer maker’s stock after selling 77,120 shares during the period. Alps Advisors Inc. owned approximately 0.16% of HP worth $46,291,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. CWM LLC boosted 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 valued at $115,000 after buying an additional 20 shares during the last quarter. DnB Asset Management AS boosted its position in shares of HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock valued at $70,430,000 after buying an additional 3,443,455 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of HP by 12.3% in the first quarter. NewSquare Capital LLC now owns 72,449 shares of the computer maker’s stock valued at $1,295,000 after buying an additional 7,960 shares during the last quarter. Rockland Trust Co. boosted its position in shares of HP by 1.9% in the first quarter. Rockland Trust Co. now owns 156,887 shares of the computer maker’s stock valued at $2,805,000 after buying an additional 2,943 shares during the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of HP during the first quarter valued at about $746,000. 79.90% of the stock is currently owned by institutional investors.
HP Inc. (HPQ) opened at 19.04 on Wednesday. The stock has a market cap of $32.05 billion, a P/E ratio of 13.47 and a beta of 1.90. HP Inc. has a one year low of $13.55 and a one year high of $19.58. The stock has a 50 day moving average of $18.60 and a 200-day moving average of $17.92.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. Analysts anticipate that HP Inc. will post $1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.79%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is currently 37.32%.
TRADEMARK VIOLATION WARNING: This report was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.com-unik.info/2017/08/16/hp-inc-hpq-position-decreased-by-alps-advisors-inc.html.
Several research analysts have recently issued reports on the stock. UBS AG restated a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of HP in a report on Thursday, May 25th. BidaskClub cut 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 “sector perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of HP in a report on Friday, May 19th. Citigroup Inc. set a $20.00 target price on shares of HP and gave the company 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 upped their target price for the company 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 given a buy rating and one has issued a strong buy rating to the company’s stock. HP has a consensus rating of “Buy” and an average target price of $19.89.
In related news, Director Margaret C. Whitman sold 443,920 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the sale, the director now owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jon E. Flaxman sold 35,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $18.26, for a total transaction of $639,100.00. Following the completion of the sale, the chief operating officer now directly 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 sold 1,748,815 shares of company stock valued at $32,623,560 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
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.
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
What are top analysts saying about HP Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for HP Inc. and related companies.