SG Americas Securities LLC cut its stake in shares of HP Inc. (NYSE:HPQ) by 73.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 326,583 shares of the computer maker’s stock after selling 881,083 shares during the period. SG Americas Securities LLC’s holdings in HP were worth $5,709,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Beacon Advisors Inc. purchased a new position in shares of HP during the first quarter valued at $112,000. YorkBridge Wealth Partners LLC increased 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 valued at $118,000 after buying an additional 675 shares during the last quarter. CWM LLC increased 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. First Command Bank increased 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 valued at $118,000 after buying an additional 2,984 shares during the last quarter. Finally, TrimTabs Asset Management LLC increased 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 valued at $124,000 after buying an additional 3,264 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.
HP Inc. (NYSE HPQ) opened at 18.64 on Friday. HP Inc. has a 12-month low of $13.55 and a 12-month high of $19.58. The firm has a 50-day moving average price of $18.65 and a 200-day moving average price of $17.93. The stock has a market cap of $31.38 billion, a PE ratio of 13.18 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. Analysts forecast that HP Inc. will post $1.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is presently 37.32%.
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Several research analysts recently weighed in on the stock. UBS AG reissued a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of HP in a research note on Thursday, May 25th. BidaskClub downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of HP in a research note on Friday, May 19th. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 target price on shares of HP in a research note on Wednesday. Finally, Citigroup Inc. set a $20.00 target price on shares of HP and gave the company a “buy” rating in a research note on Thursday, May 25th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $19.89.
In other news, insider Marie Myers sold 12,119 shares of HP stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total transaction of $218,990.33. Following the sale, the insider now owns 5,621 shares of the company’s stock, valued at approximately $101,571.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jon E. Flaxman sold 35,000 shares of HP 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 sale, the chief operating officer now directly owns 62,203 shares in the company, 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 worth $32,623,560 in the last three months. 0.62% of the stock is owned by 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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