Ameriprise Financial Inc. increased its position in shares of HP Inc. (NYSE:HPQ) by 168.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,438,608 shares of the computer maker’s stock after buying an additional 2,787,506 shares during the period. Ameriprise Financial Inc. owned 0.26% of HP worth $77,640,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of HPQ. Waldron LP acquired a new position in HP during the first quarter worth $288,000. UBS Asset Management Americas Inc. increased its holdings in HP by 14.2% during the first quarter. UBS Asset Management Americas Inc. now owns 7,311,893 shares of the computer maker’s stock worth $130,737,000 after buying an additional 911,087 shares during the last quarter. Montecito Bank & Trust increased its holdings in HP by 3.3% during the first quarter. Montecito Bank & Trust now owns 17,282 shares of the computer maker’s stock worth $309,000 after buying an additional 555 shares during the last quarter. Destination Wealth Management increased its holdings in HP by 0.5% during the first quarter. Destination Wealth Management now owns 15,603 shares of the computer maker’s stock worth $279,000 after buying an additional 83 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in HP during the first quarter worth $23,365,000. Institutional investors and hedge funds own 79.18% of the company’s stock.
In other news, insider Marie Myers sold 12,119 shares of HP stock in a transaction dated Wednesday, June 28th. The stock was 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 owns 5,621 shares in the company, valued at approximately $101,571.47. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret C. Whitman sold 147,968 shares of HP stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $18.00, for a total value of $2,663,424.00. Following the sale, the director now owns 618,857 shares of the company’s stock, valued at approximately $11,139,426. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,661,600 shares of company stock valued at $31,095,035. Corporate insiders own 0.62% of the company’s stock.
HP Inc. (NYSE:HPQ) opened at 19.59 on Tuesday. The company has a market cap of $32.72 billion, a PE ratio of 14.24 and a beta of 1.93. The stock has a 50 day moving average of $19.17 and a 200-day moving average of $18.43. HP Inc. has a 12-month low of $13.77 and a 12-month high of $19.78.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. On average, equities research analysts anticipate that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.71%. HP’s dividend payout ratio (DPR) is presently 38.41%.
HPQ has been the topic of a number of recent analyst reports. Credit Suisse Group restated a “buy” rating and set a $19.00 target price on shares of HP in a report on Tuesday, May 23rd. BMO Capital Markets upped their price objective on shares of HP from $17.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, May 25th. Citigroup Inc. set a $20.00 price objective on shares of HP and gave the company a “buy” rating in a report on Thursday, May 25th. Mizuho upped their price objective on shares of HP from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Finally, Goldman Sachs Group, Inc. (The) upped their price objective on shares of HP from $16.50 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned 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 an average target price of $20.57.
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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