National Pension Service Has $21,947,000 Position in HP Inc. (HPQ)
National Pension Service increased its position in shares of HP Inc. (NYSE:HPQ) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,413,172 shares of the computer maker’s stock after buying an additional 110,925 shares during the period. National Pension Service owned about 0.08% of HP worth $21,947,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealthsource Partners LLC increased 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. Assetmark Inc. increased its position 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. increased its position 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. bought a new position in HP during the second quarter worth approximately $26,430,000. Finally, Thompson Investment Management Inc. increased its position 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 owned by institutional investors and hedge funds.
Shares of HP Inc. (NYSE:HPQ) traded up 0.92% during midday trading on Wednesday, hitting $15.29. The stock had a trading volume of 1,875,164 shares. The stock has a market cap of $26.18 billion, a PE ratio of 10.68 and a beta of 1.53. HP Inc. has a 12 month low of $8.91 and a 12 month high of $16.19. The stock’s 50-day moving average is $14.93 and its 200-day moving average is $14.09.
HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $11.89 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that HP Inc. will post $1.60 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be given a dividend of $0.1327 per share. The ex-dividend date is Monday, December 12th. This is a positive change from HP’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a dividend yield of 3.50%. HP’s payout ratio is currently 35.21%.
Several brokerages have commented on HPQ. Vetr downgraded HP from a “strong-buy” rating to a “buy” rating and set a $17.76 target price for the company. in a research note on Tuesday, November 15th. Jefferies Group downgraded HP from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Barclays PLC reissued a “hold” rating and set a $15.00 target price on shares of HP in a research note on Wednesday, November 23rd. Credit Suisse Group AG reissued a “buy” rating and set a $19.00 target price on shares of HP in a research note on Sunday, October 9th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $16.00 target price (up previously from $14.00) on shares of HP in a research note on Monday, October 10th. Fifteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.64.
In related news, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction that occurred on 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 sale, the insider now directly owns 213,582 shares in the company, valued at $3,203,730. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.
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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