Swiss National Bank Decreases Position in HP Inc. (HPQ)
Swiss National Bank reduced its stake in shares of HP Inc. (NYSE:HPQ) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,807,392 shares of the computer maker’s stock after selling 32,600 shares during the period. Swiss National Bank owned 0.28% of HP worth $74,659,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in HPQ. Wealthsource Partners LLC increased its position 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 worth $206,000 after buying an additional 2,196 shares during the last quarter. Assetmark Inc. increased its position in shares of 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 last quarter. Flippin Bruce & Porter Inc. increased its position in shares of 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 last quarter. Emerald Acquisition Ltd. bought a new position in shares of HP during the second quarter worth approximately $26,430,000. Finally, Thompson Investment Management Inc. increased its position in shares of 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 last quarter. Institutional investors and hedge funds own 76.75% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) opened at 15.15 on Wednesday. The company has a 50 day moving average price of $14.93 and a 200-day moving average price of $14.09. 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 12-month low of $8.91 and a 12-month high of $16.19.
HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.93 earnings per share. Analysts expect that HP Inc. will post $1.60 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $0.1327 dividend. The ex-dividend date is Monday, December 12th. This represents a $0.53 dividend on an annualized basis and a yield of 3.50%. This is a boost from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio (DPR) is currently 35.21%.
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A number of equities analysts recently commented on the company. Vetr downgraded HP from a “strong-buy” rating to a “buy” rating and set a $16.12 price objective on the stock. in a research report on Monday, September 19th. BMO Capital Markets raised their target price on HP from $13.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 23rd. Royal Bank Of Canada raised their target price on HP from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, October 10th. 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, Wells Fargo & Co. reissued an “outperform” rating and set a $14.50 target price on shares of HP in a research note on Wednesday, November 23rd. Fifteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. HP currently has a consensus rating of “Hold” and an average price target of $15.64.
In other HP news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by company insiders.
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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