BP PLC continued to hold its position in shares of HP Inc. (NYSE:HPQ) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 212,000 shares of the computer maker’s stock at the end of the second quarter. BP PLC’s holdings in HP were worth $3,704,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Advisor Partners LLC boosted its stake in HP by 0.4% in the second quarter. Advisor Partners LLC now owns 43,215 shares of the computer maker’s stock valued at $755,000 after buying an additional 158 shares in the last quarter. IFP Advisors Inc boosted its stake in HP by 5.6% in the second quarter. IFP Advisors Inc now owns 33,606 shares of the computer maker’s stock valued at $587,000 after buying an additional 1,773 shares in the last quarter. ARP Americas LLC bought a new stake in HP during the second quarter valued at approximately $338,000. Capital Investment Advisory Services LLC bought a new stake in HP during the second quarter valued at approximately $183,000. Finally, Rand Wealth LLC boosted its stake in HP by 2.2% in the second quarter. Rand Wealth LLC now owns 45,943 shares of the computer maker’s stock valued at $803,000 after buying an additional 1,000 shares in the last quarter. 79.90% of the stock is owned by institutional investors.
HP Inc. (HPQ) opened at 18.51 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 is $18.67 and its 200 day moving average is $17.95. The company has a market cap of $31.16 billion, a P/E ratio of 13.09 and a beta of 1.90.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating 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 firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the firm posted $0.41 earnings per share. HP’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts anticipate that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
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HPQ has been the topic of several analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price target on shares of HP in a research report on Friday, May 26th. Zacks Investment Research cut shares of HP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Jefferies Group LLC boosted their price target on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Bank of America Corporation upped their target price on shares of HP from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, Royal Bank Of Canada upped their target price on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. HP presently has an average rating of “Buy” and an average price target of $19.89.
In other HP news, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the completion of the transaction, 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 can be accessed through this link. Also, Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction 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 transaction, the director now directly owns 692,849 shares of the company’s stock, valued at $13,413,556.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,748,815 shares of company stock valued at $32,623,560. 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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