ARP Americas LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,341 shares of the computer maker’s stock, valued at approximately $338,000.
Several other hedge funds also recently added to or reduced their stakes in HPQ. Trexquant Investment LP acquired a new position in shares of HP during the first quarter worth $833,000. ZWJ Investment Counsel Inc. acquired a new position in shares of HP during the first quarter worth $443,000. Cornerstone Capital Management Holdings LLC. raised its position in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock worth $26,145,000 after buying an additional 754,019 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock worth $4,476,000 after buying an additional 6,074 shares in the last quarter. Finally, American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter worth $112,000. Institutional investors own 79.90% of the company’s stock.
HP Inc. (HPQ) traded down 0.70% during trading on Friday, hitting $18.51. The stock had a trading volume of 11,687,271 shares. The firm has a market cap of $31.16 billion, a PE ratio of 13.09 and a beta of 1.90. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58. The company’s 50 day moving average is $18.67 and its 200 day moving average is $17.95.
HP (NYSE:HPQ) last announced its quarterly 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 analysts’ expectations of $11.93 billion. During the same period in the previous year, the company earned $0.41 earnings per share. HP’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that HP Inc. will post $1.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a $0.1327 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.87%. HP’s dividend payout ratio (DPR) is presently 37.32%.
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A number of brokerages have weighed in on HPQ. Stifel Nicolaus restated a “hold” rating and issued a $14.00 target price on shares of HP in a research note on Wednesday. BidaskClub lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada upgraded HP from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $21.00 to $22.00 in a research report on Thursday, July 20th. Jefferies Group LLC increased their price objective on HP from $18.00 to $18.75 and gave the company a “hold” rating in a research report on Tuesday, July 18th. Finally, Susquehanna Bancshares Inc assumed coverage on HP in a research report on Thursday, July 13th. They set a “neutral” rating and a $20.00 price objective on the stock. Nine investment 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.89.
In related news, COO Jon E. Flaxman sold 35,000 shares of the business’s 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 sale, the chief operating officer now directly owns 62,203 shares of the company’s stock, valued at $1,135,826.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Marie Myers sold 12,119 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the sale, the insider now directly owns 5,621 shares of the company’s stock, valued at $101,571.47. 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 owned by corporate 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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