HL Financial Services LLC Has $377,000 Stake in HP Inc. (HPQ)
HL Financial Services LLC raised its position in HP Inc. (NYSE:HPQ) by 48.3% during the second quarter, Holdings Channel reports. The institutional investor owned 21,592 shares of the computer maker’s stock after buying an additional 7,033 shares during the period. HL Financial Services LLC’s holdings in HP were worth $377,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in HPQ. Skandinaviska Enskilda Banken AB publ purchased a new position in HP during the first quarter worth about $79,108,000. Renaissance Technologies LLC purchased a new position in HP during the first quarter worth about $62,824,000. DnB Asset Management AS boosted its position in HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock worth $70,430,000 after buying an additional 3,443,455 shares during the period. Morgan Stanley boosted its position in HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock worth $131,121,000 after buying an additional 3,003,129 shares during the period. Finally, Primecap Management Co. CA boosted its position in HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.
HP Inc. (NYSE:HPQ) opened at 19.10 on Tuesday. The stock has a 50 day moving average of $18.57 and a 200 day moving average of $17.89. HP Inc. has a one year low of $13.55 and a one year high of $19.58. The firm has a market cap of $32.15 billion, a price-to-earnings ratio of 13.51 and a beta of 1.90.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. Equities research analysts predict that HP Inc. will post $1.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is currently 37.32%.
HPQ has been the subject of a number of research analyst reports. Citigroup Inc. upgraded shares of HP from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 18th. Morgan Stanley lifted their target price on shares of HP from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, April 18th. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $20.00 target price (up previously from $18.00) on shares of HP in a research note on Friday, May 19th. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $19.89.
In other news, Director Margaret C. Whitman sold 443,920 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the completion of the transaction, the director now owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $18.26, for a total transaction of $639,100.00. Following the transaction, the chief operating officer now directly owns 62,203 shares of the company’s stock, valued at approximately $1,135,826.78. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock valued at $32,623,560 in the last ninety days. Insiders own 0.62% of the company’s stock.
HP Company Profile
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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