LMR Partners LLP Increases Position in HP Inc. (HPQ)
LMR Partners LLP raised its stake in shares of HP Inc. (NYSE:HPQ) by 106.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 93,380 shares of the computer maker’s stock after buying an additional 48,130 shares during the period. LMR Partners LLP’s holdings in HP were worth $1,632,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in HPQ. CWM LLC boosted its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the last quarter. DnB Asset Management AS boosted its stake 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 last quarter. NewSquare Capital LLC boosted its stake in shares of HP by 12.3% in the first quarter. NewSquare Capital LLC now owns 72,449 shares of the computer maker’s stock valued at $1,295,000 after buying an additional 7,960 shares during the last quarter. Rockland Trust Co. boosted its stake in shares of HP by 1.9% in the first quarter. Rockland Trust Co. now owns 156,887 shares of the computer maker’s stock valued at $2,805,000 after buying an additional 2,943 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of HP during the first quarter valued at approximately $746,000. Institutional investors and hedge funds own 79.90% of the company’s stock.
HP Inc. (HPQ) opened at 18.97 on Thursday. The firm has a 50-day moving average of $18.63 and a 200-day moving average of $17.92. The firm has a market cap of $31.93 billion, a PE ratio of 13.42 and a beta of 1.90. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the Zacks’ 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 negative return on equity of 68.86% and a net margin of 4.94%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. Equities analysts anticipate that HP Inc. will post $1.64 EPS for the current 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 $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.80%. HP’s payout ratio is 37.32%.
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Several analysts have commented on HPQ shares. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and lifted their price objective 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 price objective for the company in a research note on Tuesday, April 25th. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 price objective (up from $18.00) on shares of HP in a research note on Friday, May 19th. Credit Suisse Group restated a “buy” rating and set a $19.00 price objective on shares of HP in a research note on Tuesday, May 23rd. Finally, BMO Capital Markets lifted their price objective on shares of HP from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 25th. 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 company. HP presently has a consensus rating of “Buy” and a consensus price target of $19.89.
In other news, COO Jon E. Flaxman sold 35,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the transaction, the chief operating officer now owns 62,203 shares of the company’s stock, valued at $1,135,826.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the transaction, the director now directly owns 692,849 shares of the company’s stock, valued at approximately $13,385,842.68. The disclosure for this sale can be found here. In the last three months, insiders sold 1,748,815 shares of company stock valued at $32,623,560. Company 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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