Cedar Wealth Management LLC boosted its stake in HP Inc. (NYSE:HPQ) by 19.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,715 shares of the computer maker’s stock after buying an additional 1,879 shares during the period. Cedar Wealth Management LLC’s holdings in HP were worth $205,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in HP during the first quarter valued at about $833,000. ZWJ Investment Counsel Inc. purchased a new position in HP during the first quarter valued at about $443,000. Cornerstone Capital Management Holdings LLC. boosted its position in 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 valued at $26,145,000 after buying an additional 754,019 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after buying an additional 6,074 shares in the last quarter. Finally, American Beacon Advisors Inc. purchased a new position in HP during the first quarter valued at about $112,000. 79.90% of the stock is owned by hedge funds and other institutional investors.
HP Inc. (HPQ) traded down 0.70% during trading on Friday, reaching $18.51. 11,687,271 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $18.67 and its 200-day moving average price is $17.95. The stock has a market capitalization of $31.16 billion, a price-to-earnings 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.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s 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 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 $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
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Several research analysts recently issued reports on HPQ shares. FBN Securities reissued an “outperform” rating and set a $23.00 price target (up from $19.00) on shares of HP in a report on Sunday, May 28th. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 12th. Mizuho raised shares of HP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $21.00 in a report on Monday, July 10th. BidaskClub raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada upped their target price on shares of HP from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 25th. 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. The company currently has an average rating of “Buy” and a consensus price target of $19.89.
In other HP news, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the sale, the director now directly owns 692,849 shares in the company, valued at $13,385,842.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the sale, the director now owns 692,849 shares of the company’s stock, valued at $13,413,556.64. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock valued at $32,623,560 over the last quarter. Corporate insiders own 0.62% of the company’s stock.
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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