HP Inc. (HPQ) Shares Sold by Fiduciary Trust Co.
Fiduciary Trust Co. reduced its stake in HP Inc. (NYSE:HPQ) by 12.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,972 shares of the computer maker’s stock after selling 8,670 shares during the period. Fiduciary Trust Co.’s holdings in HP were worth $1,049,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 purchasing an additional 2,122,269 shares in the last quarter. State Street Corp increased 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 purchasing an additional 515,648 shares in the last quarter. Primecap Management Co. CA increased 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 purchasing an additional 2,163,147 shares in the last quarter. American International Group Inc. increased 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 purchasing an additional 457,514 shares in the last quarter. Finally, Boston Partners increased 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 purchasing an additional 19,667,780 shares in the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.
HP Inc. (HPQ) opened at 19.37 on Thursday. The stock has a market capitalization of $32.56 billion, a PE ratio of 14.08 and a beta of 1.93. The firm has a 50-day moving average of $19.11 and a 200-day moving average of $18.30. HP Inc. has a 1-year low of $13.77 and a 1-year high of $19.78.
HP (NYSE:HPQ) last announced 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 net margin of 4.66% and a negative return on equity of 64.93%. The firm had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. During the same period in the previous year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts expect that HP Inc. will post $1.65 EPS for the current fiscal year.
The firm also recently announced 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 of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.74%. HP’s dividend payout ratio (DPR) is 38.41%.
In related news, Director Margaret C. Whitman sold 147,968 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $18.00, for a total transaction of $2,663,424.00. Following the completion of the sale, the director now directly owns 618,857 shares in the company, valued at $11,139,426. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the sale, the director now owns 544,881 shares of the company’s stock, valued at $9,655,291.32. The disclosure for this sale can be found here. Insiders have sold 1,713,815 shares of company stock valued at $31,984,460 over the last 90 days. 0.62% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on the stock. UBS AG reaffirmed a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of HP in a research note on Thursday, May 25th. BidaskClub downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 price target on shares of HP in a research note on Thursday, August 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $22.00 price target on shares of HP in a research note on Thursday, August 24th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $19.50 price target on shares of HP in a research note on Thursday, August 24th. Ten analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $20.57.
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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