Mitsubishi UFJ Trust & Banking Corp Sells 29,389 Shares of HP Inc. (HPQ)
Mitsubishi UFJ Trust & Banking Corp decreased its position in HP Inc. (NYSE:HPQ) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,473,883 shares of the computer maker’s stock after selling 29,389 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.21% of HP worth $60,723,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new stake in HP during the first quarter worth approximately $112,000. YorkBridge Wealth Partners LLC boosted its stake in HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after buying an additional 675 shares in the last quarter. First Command Bank boosted its stake in HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after buying an additional 2,984 shares in the last quarter. TrimTabs Asset Management LLC boosted its stake in HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock worth $124,000 after buying an additional 3,264 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in 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 worth $130,000 after buying an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 78.50% of the company’s stock.
HP Inc. (HPQ) opened at 19.31 on Monday. HP Inc. has a 52-week low of $13.77 and a 52-week high of $19.78. The firm has a market capitalization of $32.46 billion, a price-to-earnings ratio of 14.03 and a beta of 1.90. The company’s 50-day moving average price is $18.86 and its 200 day moving average price is $18.09.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. During the same quarter last year, the company posted $0.48 earnings per share. HP’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that HP Inc. will post $1.65 earnings per share for the current year.
The firm 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. This represents a $0.53 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is currently 38.41%.
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HPQ has been the subject of a number of recent research reports. Bank of America Corporation lifted their price objective on HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. UBS AG reiterated a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Credit Suisse Group reiterated a “buy” rating and set a $19.00 price objective on shares of HP in a research report on Tuesday, May 23rd. Citigroup Inc. set a $20.00 price objective on HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Mizuho upgraded HP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $21.00 in a research report on Monday, July 10th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.53.
In related news, Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the transaction, the director now owns 692,849 shares in the company, valued at $13,413,556.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction dated 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 transaction, the director now 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. Insiders have sold 1,713,815 shares of company stock valued at $31,984,460 in the last quarter. 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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