1,000,100 Shares in HP Inc. (HPQ) Acquired by First Eagle Investment Management LLC
First Eagle Investment Management LLC bought a new stake in shares of HP Inc. (NYSE:HPQ) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,000,100 shares of the computer maker’s stock, valued at approximately $15,532,000. First Eagle Investment Management LLC owned 0.06% of HP at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Wealthsource Partners LLC increased its stake in shares of HP by 15.5% in the second quarter. Wealthsource Partners LLC now owns 16,390 shares of the computer maker’s stock valued at $206,000 after buying an additional 2,196 shares in the last quarter. Assetmark Inc. boosted its stake in HP by 7.0% in the second quarter. Assetmark Inc. now owns 62,341 shares of the computer maker’s stock worth $782,000 after buying an additional 4,058 shares during the period. Flippin Bruce & Porter Inc. boosted its stake in HP by 6.3% in the second quarter. Flippin Bruce & Porter Inc. now owns 370,701 shares of the computer maker’s stock worth $4,652,000 after buying an additional 21,915 shares during the period. Emerald Acquisition Ltd. acquired a new stake in HP during the second quarter worth approximately $26,430,000. Finally, Thompson Investment Management Inc. boosted its stake in HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock worth $510,000 after buying an additional 120 shares during the period. 76.75% of the stock is currently owned by hedge funds and other institutional investors.
HP Inc. (NYSE:HPQ) traded up 1.39% during midday trading on Wednesday, hitting $15.36. 2,946,437 shares of the stock traded hands. HP Inc. has a one year low of $8.91 and a one year high of $16.19. The company has a market cap of $26.30 billion, a PE ratio of 10.73 and a beta of 1.53. 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. The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. HP had a net margin of 5.17% and a negative return on equity of 61.38%. HP’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 earnings per share. Equities research analysts expect that HP Inc. will post $1.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a dividend of $0.1327 per share. The ex-dividend date of this dividend is Monday, December 12th. This represents a $0.53 dividend on an annualized basis and a yield of 3.50%. This is an increase from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio (DPR) is currently 35.21%.
A number of equities research analysts have recently commented on the company. Argus restated a “buy” rating and set a $15.15 target price (down from $19.00) on shares of HP in a research report on Wednesday. Vetr upgraded HP from a “buy” rating to a “strong-buy” rating and set a $17.76 target price on the stock in a research report on Monday. Wells Fargo & Co. restated an “outperform” rating and set a $14.50 target price on shares of HP in a research report on Wednesday, November 23rd. BMO Capital Markets raised their target price on HP from $13.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, November 23rd. Finally, Barclays PLC restated a “hold” rating and set a $15.00 target price on shares of HP in a research report on Wednesday, November 23rd. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.64.
In other HP news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now owns 213,582 shares of the company’s stock, valued at $3,203,730. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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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