Personal Resources Investment & Strategic Management Inc. raised its stake in shares of HP Inc. (NYSE:HPQ) by 13.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,458 shares of the computer maker’s stock after buying an additional 7,847 shares during the quarter. Personal Resources Investment & Strategic Management Inc.’s holdings in HP were worth $1,340,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of HP by 1.6% during the first quarter. FMR LLC now owns 20,390,859 shares of the computer maker’s stock worth $396,194,000 after purchasing an additional 313,469 shares in the last quarter. Inlet Private Wealth LLC grew its holdings in shares of HP by 28.0% during the first quarter. Inlet Private Wealth LLC now owns 51,216 shares of the computer maker’s stock worth $995,000 after purchasing an additional 11,216 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of HP by 3.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,652 shares of the computer maker’s stock worth $1,742,000 after purchasing an additional 3,325 shares in the last quarter. Accident Compensation Corp grew its holdings in shares of HP by 4.0% during the first quarter. Accident Compensation Corp now owns 232,650 shares of the computer maker’s stock worth $4,520,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its holdings in shares of HP by 378.6% during the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock worth $42,000 after purchasing an additional 1,609 shares in the last quarter. 77.16% of the stock is owned by institutional investors and hedge funds.
HPQ remained flat at $$18.96 during midday trading on Thursday. The company’s stock had a trading volume of 4,514,891 shares, compared to its average volume of 8,729,537. The stock has a market capitalization of $28.94 billion, a P/E ratio of 9.39, a P/E/G ratio of 2.89 and a beta of 1.40. The company’s 50-day moving average is $20.48 and its two-hundred day moving average is $20.37. HP Inc. has a 1-year low of $18.06 and a 1-year high of $27.08.
HP (NYSE:HPQ) last issued its 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 negative return on equity of 232.81% and a net margin of 6.67%. The business 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 firm earned $0.48 earnings per share. HP’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that HP Inc. will post 2.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a $0.16 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.64 annualized dividend and a yield of 3.38%. HP’s payout ratio is currently 31.68%.
In other HP news, insider Claire Bramley sold 15,819 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $316,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dion J. Weisler sold 132,964 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $20.95, for a total value of $2,785,595.80. 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 quarter. Corporate insiders own 0.25% of the company’s stock.
HPQ has been the subject of several recent analyst reports. Wolfe Research lowered HP from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $25.00 to $21.00 in a report on Tuesday, May 14th. ValuEngine lowered HP from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Evercore ISI initiated coverage on HP in a report on Wednesday, June 5th. They set an “outperform” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on HP from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, June 25th. Finally, Citigroup lowered HP from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $21.00 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus 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.
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