Capstone Asset Management Co. Acquires 2,559 Shares of HP Inc. (HPQ)
Capstone Asset Management Co. raised its position in shares of HP Inc. (NYSE:HPQ) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 248,287 shares of the computer maker’s stock after buying an additional 2,559 shares during the period. Capstone Asset Management Co.’s holdings in HP were worth $3,856,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Visionary Asset Management Inc. raised its position in HP by 3.0% in the second quarter. Visionary Asset Management Inc. now owns 219,612 shares of the computer maker’s stock worth $2,760,000 after buying an additional 6,466 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock worth $5,557,000 after buying an additional 22,392 shares during the period. Wealthfront Inc. raised its position in HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock worth $214,000 after buying an additional 3,638 shares during the period. Wealthsource Partners LLC raised its position in HP by 15.5% in the second quarter. Wealthsource Partners LLC now owns 16,390 shares of the computer maker’s stock worth $206,000 after buying an additional 2,196 shares during the period. Finally, Creative Planning raised its position in HP by 3.0% in the third quarter. Creative Planning now owns 89,323 shares of the computer maker’s stock worth $1,387,000 after buying an additional 2,615 shares during the period. 76.75% of the stock is currently owned by institutional investors and hedge funds.
HP Inc. (NYSE:HPQ) traded up 0.46% during trading on Tuesday, hitting $15.15. The stock had a trading volume of 9,762,766 shares. The firm has a market cap of $25.94 billion, a PE ratio of 10.58 and a beta of 1.53. HP Inc. has a 52 week low of $8.91 and a 52 week high of $16.19. The company’s 50-day moving average is $14.93 and its 200 day moving average is $14.09.
HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The company earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. During the same period last year, the business earned $0.93 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts expect that HP Inc. will post $1.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be paid a dividend of $0.1327 per share. The ex-dividend date is Monday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.12. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.50%. HP’s dividend payout ratio (DPR) is 35.21%.
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HPQ has been the topic of several recent research reports. Barclays PLC boosted their price objective on shares of HP from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 25th. RBC Capital Markets reiterated a “sector perform” rating and issued a $14.00 price objective on shares of HP in a research report on Tuesday, September 13th. Vetr upgraded shares of HP from a “buy” rating to a “strong-buy” rating and set a $16.84 price objective on the stock in a research report on Monday, October 17th. Jefferies Group boosted their price objective on shares of HP from $16.00 to $16.75 and gave the stock a “buy” rating in a research report on Thursday, August 25th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 price objective on shares of HP in a research report on Thursday, August 25th. Fifteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.84.
In other news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now directly owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.51% of the company’s stock.
HP Company Profile
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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