James Investment Research Inc. Purchases Shares of 70,500 HP Inc. (NYSE:HPQ)

James Investment Research Inc. purchased a new position in HP Inc. (NYSE:HPQ) during the second quarter, Holdings Channel reports. The institutional investor purchased 70,500 shares of the computer maker’s stock, valued at approximately $1,232,000.

Several other hedge funds have also recently made changes to their positions in HPQ. Vanguard Group Inc. increased its stake in shares of HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock worth $2,175,775,000 after buying an additional 2,122,269 shares in the last quarter. State Street Corp increased its stake in shares of HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock worth $1,421,893,000 after buying an additional 515,648 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares in the last quarter. American International Group Inc. increased its stake in shares of HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock worth $519,522,000 after buying an additional 457,514 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of HP by 4.8% in the first quarter. LSV Asset Management now owns 13,611,654 shares of the computer maker’s stock worth $243,376,000 after buying an additional 621,847 shares in the last quarter. Institutional investors and hedge funds own 79.49% of the company’s stock.

Shares of HP Inc. (HPQ) opened at 19.15 on Friday. The stock has a market capitalization of $32.24 billion, a PE ratio of 13.54 and a beta of 1.89. The stock’s 50 day moving average is $17.98 and its 200 day moving average is $17.35. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. Equities research analysts expect that HP Inc. will post $1.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th were issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, June 12th. HP’s payout ratio is 37.32%.

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HPQ has been the subject of a number of recent analyst reports. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $22.00 in a report on Wednesday, April 19th. Citigroup Inc. upgraded shares of HP from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.54 to $20.00 in a report on Wednesday, April 12th. Stifel Nicolaus restated a “hold” rating and set a $14.00 price target on shares of HP in a report on Friday, May 26th. Zacks Investment Research downgraded shares of HP from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, Jefferies Group LLC raised their price target on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.89.

In related news, insider Marie Myers sold 12,119 shares of the firm’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 approximately $101,571.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ron Coughlin sold 10,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $18.95, for a total transaction of $189,500.00. Following the sale, the insider now directly owns 51,745 shares of the company’s stock, valued at $980,567.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,213,319 shares of company stock valued at $22,226,676. Company insiders own 0.62% of the company’s stock.

About HP

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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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