Piedmont Investment Advisors LLC lifted its stake in HP Inc. (NYSE:HPQ) by 28.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 471,334 shares of the computer maker’s stock after acquiring an additional 104,386 shares during the period. Piedmont Investment Advisors LLC’s holdings in HP were worth $8,239,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cypress Capital Group raised its position in shares of HP by 1.8% in the 2nd quarter. Cypress Capital Group now owns 30,196 shares of the computer maker’s stock worth $528,000 after acquiring an additional 525 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of HP by 125.0% in the 2nd quarter. Nomura Holdings Inc. now owns 231,472 shares of the computer maker’s stock worth $4,511,000 after acquiring an additional 128,595 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of HP by 28.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 157,604 shares of the computer maker’s stock worth $2,755,000 after acquiring an additional 35,139 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of HP by 1.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 30,093 shares of the computer maker’s stock worth $498,000 after acquiring an additional 553 shares in the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of HP by 0.8% in the 2nd quarter. Westside Investment Management Inc. now owns 32,457 shares of the computer maker’s stock worth $580,000 after acquiring an additional 250 shares in the last quarter. 79.18% of the stock is owned by hedge funds and other institutional investors.
Shares of HP Inc. (NYSE HPQ) traded up 6.789% during trading on Friday, reaching $21.785. The company’s stock had a trading volume of 10,923,786 shares. The firm has a market capitalization of $36.39 billion, a P/E ratio of 15.832 and a beta of 1.94. The company has a 50 day moving average price of $19.72 and a 200 day moving average price of $18.76. HP Inc. has a 52 week low of $13.77 and a 52 week high of $21.91.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. On average, equities research analysts expect that HP Inc. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Tuesday, September 12th. HP’s dividend payout ratio (DPR) is 38.41%.
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In other news, insider Dion J. Weisler sold 731,502 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the sale, the insider now owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 295,936 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $19.00, for a total value of $5,622,784.00. Following the sale, the director now directly owns 766,825 shares in the company, valued at approximately $14,569,675. The disclosure for this sale can be found here. Insiders have sold a total of 2,127,206 shares of company stock worth $41,757,043 in the last three months. Corporate insiders own 0.62% of the company’s stock.
Several research firms have recently commented on HPQ. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 price target on shares of HP in a research report on Sunday, October 8th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday. Citigroup Inc. upped their target price on HP from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley upped their target price on HP from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Bank of America Corporation upped their target price on HP from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $21.27.
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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