KBC Group NV Lowers Stake in HP Inc. (HPQ)
KBC Group NV decreased its stake in HP Inc. (NYSE:HPQ) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 289,538 shares of the computer maker’s stock after selling 34,797 shares during the period. KBC Group NV’s holdings in HP were worth $5,061,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock valued at $2,175,775,000 after buying an additional 2,122,269 shares during the last quarter. State Street Corp raised its stake in HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock valued at $1,421,893,000 after buying an additional 515,648 shares during the last quarter. Primecap Management Co. CA raised its stake 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 valued at $1,141,660,000 after buying an additional 2,163,147 shares during the last quarter. American International Group Inc. raised its stake in HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock valued at $519,522,000 after buying an additional 457,514 shares during the last quarter. Finally, Boston Partners raised its stake in HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after buying an additional 19,667,780 shares during the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.
Shares of HP Inc. (NYSE HPQ) opened at 18.86 on Thursday. The stock has a market capitalization of $31.75 billion, a P/E ratio of 13.34 and a beta of 1.90. The company has a 50-day moving average of $18.75 and a 200-day moving average of $18.05. 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 results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. On average, analysts anticipate that HP Inc. will post $1.64 EPS for the current year.
The company 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. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio is presently 37.32%.
Several analysts have recently issued reports on HPQ shares. FBN Securities reiterated an “outperform” rating and issued a $23.00 target price (up previously from $19.00) on shares of HP in a research note on Sunday, May 28th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, July 12th. Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. BidaskClub upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada upped their target price on shares of HP from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 25th. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $20.02.
In related news, COO Jon E. Flaxman sold 35,000 shares of HP stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $18.26, for a total transaction of $639,100.00. Following the transaction, the chief operating officer now owns 62,203 shares in the company, valued at $1,135,826.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Marie Myers sold 12,119 shares of HP stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total value of $218,990.33. Following the transaction, the insider now owns 5,621 shares in the company, valued at approximately $101,571.47. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock worth $32,623,560 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.
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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