Eagle Asset Management Inc. reduced its stake in shares of HP Inc (NYSE:HPQ) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,165 shares of the computer maker’s stock after selling 3,360 shares during the quarter. Eagle Asset Management Inc.’s holdings in HP were worth $4,952,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of HPQ. Boston Partners grew its position in HP by 304.9% during the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of HP by 87.1% in the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock valued at $126,086,000 after purchasing an additional 3,358,299 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new stake in HP during the third quarter worth approximately $63,140,000. Wells Fargo & Company MN boosted its position in HP by 26.3% during the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after acquiring an additional 3,017,182 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in HP by 35.0% during the second quarter. Prudential Financial Inc. now owns 11,456,195 shares of the computer maker’s stock worth $200,254,000 after acquiring an additional 2,970,120 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.
Shares of HP Inc (HPQ) traded down $0.33 during trading hours on Tuesday, reaching $21.08. 12,975,500 shares of the company traded hands, compared to its average volume of 10,994,741. The company has a market cap of $35,760.14, a P/E ratio of 12.98, a PEG ratio of 2.27 and a beta of 1.81. HP Inc has a 12-month low of $14.40 and a 12-month high of $22.68. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.1393 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from HP’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 12th. HP’s payout ratio is 35.57%.
HPQ has been the topic of a number of analyst reports. Stifel Nicolaus restated a “hold” rating and set a $14.00 target price on shares of HP in a research report on Wednesday, August 16th. Loop Capital started coverage on shares of HP in a research report on Tuesday, August 22nd. They set a “buy” rating and a $23.00 target price on the stock. Zacks Investment Research downgraded shares of HP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Maxim Group reaffirmed a “hold” rating and set a $22.00 price target (up previously from $21.00) on shares of HP in a research note on Thursday, August 24th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $19.50 price target on shares of HP in a research note on Thursday, August 24th. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. HP has an average rating of “Buy” and an average target price of $21.31.
In related news, COO Jon E. Flaxman sold 271,968 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $21.34, for a total transaction of $5,803,797.12. Following the transaction, the chief operating officer now directly owns 243,096 shares of the company’s stock, valued at $5,187,668.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracy S. Keogh sold 265,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total transaction of $5,285,440.00. Following the transaction, the insider now directly owns 165,952 shares in the company, valued at $3,302,444.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,153 shares of company stock worth $43,483,119 over the last 90 days. 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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