Rampart Investment Management Company LLC trimmed its stake in HP Inc. (NYSE:HPQ) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,278 shares of the computer maker’s stock after selling 3,324 shares during the period. Rampart Investment Management Company LLC’s holdings in HP were worth $733,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. NumerixS Investment Technologies Inc boosted its position in HP by 139.0% in the second quarter. NumerixS Investment Technologies Inc now owns 39,200 shares of the computer maker’s stock worth $815,000 after purchasing an additional 22,800 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in HP by 27.0% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 2,555,479 shares of the computer maker’s stock worth $53,128,000 after purchasing an additional 543,843 shares in the last quarter. AXA increased its stake in HP by 70.2% in the 2nd quarter. AXA now owns 1,579,087 shares of the computer maker’s stock worth $32,829,000 after acquiring an additional 651,257 shares during the last quarter. Profund Advisors LLC increased its stake in HP by 42.6% in the 2nd quarter. Profund Advisors LLC now owns 41,166 shares of the computer maker’s stock worth $856,000 after acquiring an additional 12,304 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of HP by 10.3% during the 2nd quarter. Captrust Financial Advisors now owns 14,561 shares of the computer maker’s stock valued at $305,000 after purchasing an additional 1,355 shares during the last quarter. Institutional investors and hedge funds own 79.72% of the company’s stock.
Shares of HPQ stock traded up $0.22 during trading hours on Thursday, hitting $18.93. 4,866,463 shares of the company were exchanged, compared to its average volume of 10,845,518. The business’s 50-day simple moving average is $19.01 and its two-hundred day simple moving average is $19.75. HP Inc. has a one year low of $17.10 and a one year high of $27.08. The stock has a market capitalization of $27.96 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 2.66 and a beta of 1.43.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, September 10th. HP’s dividend payout ratio is 31.68%.
In related news, CEO Dion J. Weisler sold 132,964 shares of HP stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $20.95, for a total value of $2,785,595.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Claire Bramley sold 16,852 shares of HP stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $20.81, for a total transaction of $350,690.12. Following the completion of the transaction, the insider now owns 16,852 shares in the company, valued at approximately $350,690.12. The disclosure for this sale can be found here. Insiders sold a total of 586,987 shares of company stock valued at $11,009,736 in the last ninety days. Company insiders own 0.25% of the company’s stock.
A number of equities analysts recently issued reports on the company. Sanford C. Bernstein cut HP from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a report on Monday, September 9th. Deutsche Bank initiated coverage on HP in a research note on Wednesday, June 19th. They set a “hold” rating and a $20.00 price objective for the company. ValuEngine lowered HP from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co raised HP to a “market perform” rating and cut their price objective for the company from $23.00 to $20.00 in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. set a $19.00 price objective on HP and gave the company a “hold” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $21.76.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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