Peddock Capital Advisors LLC cut its holdings in HP Inc. (NYSE:HPQ) by 3.5% in the second quarter, HoldingsChannel reports. The firm owned 53,062 shares of the computer maker’s stock after selling 1,930 shares during the period. Peddock Capital Advisors LLC’s holdings in HP were worth $1,103,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Icon Wealth Partners LLC bought a new stake in HP during the first quarter valued at about $27,000. Rational Advisors LLC boosted its holdings in HP by 1,557.8% during the first quarter. Rational Advisors LLC now owns 1,923 shares of the computer maker’s stock valued at $37,000 after acquiring an additional 1,807 shares during the period. Coastal Capital Group Inc. bought a new stake in HP during the second quarter valued at about $39,000. Berman Capital Advisors LLC boosted its holdings in HP by 378.6% during the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after acquiring an additional 1,609 shares during the period. Finally, SevenBridge Financial Group LLC boosted its holdings in HP by 65.7% during the second quarter. SevenBridge Financial Group LLC now owns 3,054 shares of the computer maker’s stock valued at $63,000 after acquiring an additional 1,211 shares during the period. Hedge funds and other institutional investors own 77.16% of the company’s stock.
In related news, CEO Dion J. Weisler sold 132,964 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $20.95, for a total value of $2,785,595.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shumeet Banerji sold 28,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now directly owns 31,311 shares of the company’s stock, valued at approximately $626,220. The disclosure for this sale can be found here. Insiders sold 213,635 shares of company stock valued at $4,423,266 in the last three months. Company insiders own 0.25% of the company’s stock.
Shares of NYSE HPQ traded up $0.02 during mid-day trading on Thursday, hitting $18.98. The company had a trading volume of 4,649,958 shares, compared to its average volume of 8,729,537. The business’s 50-day simple moving average is $20.48 and its 200-day simple moving average is $20.37. HP Inc. has a 12 month low of $18.06 and a 12 month high of $27.08. The firm has a market cap of $28.94 billion, a P/E ratio of 9.39, a PEG ratio of 2.89 and a beta of 1.40.
HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, May 23rd. The computer maker reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. HP had a net margin of 6.67% and a negative return on equity of 232.81%. The firm had revenue of $14.04 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Analysts anticipate that HP Inc. will post 2.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, September 10th. HP’s dividend payout ratio (DPR) is presently 31.68%.
HPQ has been the subject of a number of recent analyst reports. ValuEngine cut shares of HP from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wolfe Research cut shares of HP from an “outperform” rating to a “peer perform” rating and reduced their target price for the company from $25.00 to $21.00 in a research note on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on shares of HP from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, June 25th. Deutsche Bank began coverage on shares of HP in a research note on Wednesday, June 19th. They issued a “hold” rating and a $20.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of HP from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.74.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
Read More: Neutral Rating
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