Freestone Capital Holdings LLC Has $26.27 Million Stake in HP Inc. (HPQ)
Freestone Capital Holdings LLC cut its position in HP Inc. (NYSE:HPQ) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,502,621 shares of the computer maker’s stock after selling 81,714 shares during the period. HP accounts for approximately 2.1% of Freestone Capital Holdings LLC’s investment portfolio, making the stock its 5th biggest holding. Freestone Capital Holdings LLC owned about 0.09% of HP worth $26,265,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of HP by 1.8% in the 1st 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 period. State Street Corp grew its stake in shares of HP by 0.7% in the 1st 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 period. Primecap Management Co. CA grew its stake in shares of HP by 3.5% in the 1st 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 period. American International Group Inc. grew its stake in shares of HP by 1.6% in the 1st 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 period. Finally, Boston Partners grew its stake in shares of HP by 304.9% in the 2nd 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 period. Institutional investors own 78.53% of the company’s stock.
In other HP news, Director Margaret C. Whitman sold 73,992 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the transaction, the director now directly owns 544,881 shares in the company, valued at $9,644,393.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marie Myers sold 12,119 shares of the 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 in the company, valued at $101,571.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,713,815 shares of company stock worth $31,984,460. 0.62% of the stock is owned by insiders.
Several brokerages have recently commented on HPQ. Bank of America Corporation raised their target price on HP from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. UBS AG reaffirmed a “buy” rating and issued a $22.00 price target (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $21.00 to $22.00 in a research report on Thursday, July 20th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 price target on shares of HP in a research report on Thursday, August 24th. Finally, Jefferies Group LLC raised their price target on shares of HP from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, May 25th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.57.
HP Inc. (HPQ) traded up 0.910% on Wednesday, reaching $19.415. 1,839,467 shares of the company were exchanged. The firm has a market capitalization of $32.64 billion, a P/E ratio of 14.110 and a beta of 1.93. HP Inc. has a 12-month low of $13.77 and a 12-month high of $19.78. The firm has a 50-day moving average of $19.09 and a 200 day moving average of $18.29.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion for the quarter, compared to the consensus estimate of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, equities analysts predict that HP Inc. will post $1.65 earnings per share for the current 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 dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.76%. HP’s dividend payout ratio (DPR) is 38.41%.
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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