Candriam Luxembourg S.C.A. reduced its stake in HP Inc. (NYSE:HPQ) by 29.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,090 shares of the computer maker’s stock after selling 77,419 shares during the period. Candriam Luxembourg S.C.A.’s holdings in HP were worth $3,236,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HP during the first quarter valued at $79,108,000. Renaissance Technologies LLC purchased a new position in shares of HP during the first quarter valued at $62,824,000. DnB Asset Management AS raised 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. Morgan Stanley raised its position in shares of HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock valued at $131,121,000 after buying an additional 3,003,129 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock valued at $1,141,660,000 after buying an additional 2,163,147 shares during the last quarter. 79.90% of the stock is currently owned by institutional investors.
HP Inc. (NYSE HPQ) traded down 0.70% during midday trading on Friday, reaching $18.51. The company had a trading volume of 11,687,271 shares. 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 of $18.67 and a 200-day moving average of $17.95. The stock 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 released its earnings results 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. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that HP Inc. will post $1.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is presently 37.32%.
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HPQ has been the topic of several research reports. Vetr lowered 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 raised HP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Susquehanna Bancshares Inc initiated coverage on HP in a report on Thursday, July 13th. They set a “neutral” rating and a $20.00 price objective on the stock. Royal Bank Of Canada increased their price objective on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. Finally, Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, July 12th. Nine investment 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 an average rating of “Buy” and an average price target of $19.89.
In other news, Director Margaret C. Whitman sold 221,960 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total value of $4,297,145.60. Following the completion of the transaction, the director now directly owns 692,849 shares in the company, valued at approximately $13,413,556.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jon E. Flaxman sold 35,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the transaction, the chief operating officer now owns 62,203 shares of the company’s stock, valued at $1,135,826.78. The disclosure for this sale can be found here. Insiders sold a total of 1,748,815 shares of company stock valued at $32,623,560 over the last quarter. 0.62% of the stock is owned by corporate 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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