HP Inc. (HPQ) Stake Decreased by FIL Ltd

FIL Ltd lowered its stake in shares of HP Inc. (NYSE:HPQ) by 74.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,814,131 shares of the computer maker’s stock after selling 5,371,676 shares during the quarter. FIL Ltd owned approximately 0.11% of HP worth $31,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of HP by 1.6% during the second quarter. Vanguard Group Inc. now owns 123,633,569 shares of the computer maker’s stock worth $2,161,114,000 after buying an additional 1,945,965 shares in the last quarter. BlackRock Inc. grew its position in shares of HP by 2.5% during the second quarter. BlackRock Inc. now owns 108,599,783 shares of the computer maker’s stock worth $1,898,325,000 after buying an additional 2,608,983 shares in the last quarter. State Street Corp grew its position in shares of HP by 0.7% during 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 grew its position in shares of HP by 3.5% during 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. Finally, American International Group Inc. grew its position in shares of HP by 1.6% during 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. 79.18% of the stock is owned by institutional investors and hedge funds.

In other news, Director Margaret C. Whitman sold 295,952 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $18.02, for a total transaction of $5,333,055.04. Following the transaction, the director now owns 618,865 shares of the company’s stock, valued at $11,151,947.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 147,968 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 618,857 shares in the company, valued at approximately $11,139,426. The disclosure for this sale can be found here. Insiders have sold 1,597,633 shares of company stock worth $29,983,371 in the last ninety days. 0.62% of the stock is currently owned by insiders.

A number of analysts have recently weighed in on the stock. Susquehanna Bancshares Inc reissued a “hold” rating and set a $20.00 price target on shares of HP in a research report on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and set a $20.00 price target (up previously from $19.00) on shares of HP in a research report on Tuesday, September 5th. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $22.00 in a research report on Thursday, July 20th. BidaskClub downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, Maxim Group reissued a “hold” rating and set a $22.00 price target (up previously from $21.00) on shares of HP in a research report on Thursday, August 24th. Ten 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. HP has an average rating of “Buy” and an average price target of $20.57.

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Shares of HP Inc. (NYSE HPQ) opened at 19.94 on Friday. The company has a market capitalization of $33.30 billion, a PE ratio of 14.49 and a beta of 1.93. The firm has a 50-day moving average of $19.18 and a 200 day moving average of $18.44. HP Inc. has a 12 month low of $13.77 and a 12 month high of $19.95.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, equities research analysts expect that HP Inc. will post $1.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 38.41%.

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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