Webster Bank N. A. Has $167,000 Stake in HP Inc. (HPQ)
Webster Bank N. A. maintained its stake in HP Inc. (NYSE:HPQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,600 shares of the computer maker’s stock at the end of the second quarter. Webster Bank N. A.’s holdings in HP were worth $167,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Dodge & Cox acquired a new stake in HP during the fourth quarter worth approximately $2,073,164,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in HP during the first quarter worth approximately $79,108,000. Renaissance Technologies LLC acquired a new stake in HP during the first quarter worth approximately $62,824,000. DnB Asset Management AS raised its position in shares of HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock valued at $70,430,000 after buying an additional 3,443,455 shares during the period. Finally, Morgan Stanley raised its position in shares of HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock valued at $131,121,000 after buying an additional 3,003,129 shares during the period. 78.97% of the stock is owned by hedge funds and other institutional investors.
HP Inc. (HPQ) opened at 19.32 on Tuesday. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58. The company has a 50-day moving average of $18.17 and a 200 day moving average of $17.62. The company has a market cap of $32.52 billion, a P/E ratio of 13.66 and a beta of 1.90.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that HP Inc. will post $1.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.75%. HP’s dividend payout ratio is currently 37.32%.
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Several equities analysts have recently issued reports on HPQ shares. Barclays PLC raised shares of HP from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $22.00 in a report on Wednesday, April 19th. Citigroup Inc. raised shares of HP from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.54 to $20.00 in a report on Wednesday, April 12th. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 price target on shares of HP in a report on Friday, May 26th. Zacks Investment Research lowered shares of HP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC upped their target price on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.89.
In related news, insider Marie Myers sold 12,119 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the sale, the insider now directly owns 5,621 shares in the company, valued at approximately $101,571.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the sale, the director now owns 692,849 shares of the company’s stock, valued at $13,413,556.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,748,815 shares of company stock valued at $32,623,560 over the last quarter. 0.62% of the stock is currently owned by company insiders.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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