Nippon Life Insurance Co. Has $1.11 Million Stake in HP Inc. (HPQ)
Nippon Life Insurance Co. cut its stake in HP Inc. (NYSE:HPQ) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,622 shares of the computer maker’s stock after selling 2,959 shares during the period. Nippon Life Insurance Co.’s holdings in HP were worth $1,112,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new stake in shares of HP during the first quarter valued at $112,000. YorkBridge Wealth Partners LLC increased its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares during the last quarter. First Command Bank increased its stake in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after buying an additional 3,264 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of HP by 15.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock valued at $130,000 after buying an additional 996 shares during the last quarter. 79.90% of the stock is owned by institutional investors.
Shares of HP Inc. (HPQ) opened at 18.57 on Tuesday. The stock’s 50 day moving average price is $18.71 and its 200-day moving average price is $18.02. The firm has a market capitalization of $31.26 billion, a PE ratio of 13.13 and a beta of 1.90. HP Inc. has a 12 month low of $13.55 and a 12 month high of $19.58.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the 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 firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the company posted $0.41 EPS. HP’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
HPQ has been the subject of several analyst reports. Citigroup Inc. set a $20.00 target price on HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Credit Suisse Group reaffirmed a “buy” rating and issued a $19.00 target price on shares of HP in a research report on Tuesday, May 23rd. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, April 25th. Bank of America Corporation upped their target price on HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, UBS AG reaffirmed a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.89.
In related news, COO Jon E. Flaxman sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were 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 in the company, valued at approximately $1,135,826.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marie Myers sold 12,119 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the transaction, the insider now owns 5,621 shares of the company’s stock, valued at approximately $101,571.47. The disclosure for this sale can be found here. Insiders sold a total of 1,748,815 shares of company stock valued at $32,623,560 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.
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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