HP Inc. (HPQ) Holdings Cut by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC cut its holdings in HP Inc. (NYSE:HPQ) by 25.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,190,266 shares of the computer maker’s stock after selling 2,159,493 shares during the quarter. TIAA CREF Investment Management LLC owned 0.37% of HP worth $108,206,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. lifted its stake in HP by 19.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after buying an additional 1,013 shares during the period. American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter worth approximately $112,000. YorkBridge Wealth Partners LLC raised its position in shares of HP by 12.1% during the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after purchasing an additional 675 shares during the period. First Command Bank raised its position in shares of HP by 80.0% during the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after purchasing an additional 2,984 shares during the period. Finally, TrimTabs Asset Management LLC raised its position in shares of HP by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock worth $124,000 after purchasing an additional 3,264 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HP Inc. (NYSE:HPQ) opened at 19.47 on Friday. The stock has a market cap of $32.52 billion, a PE ratio of 14.15 and a beta of 1.93. HP Inc. has a one year low of $13.77 and a one year high of $19.78. The company’s 50-day moving average price is $19.15 and its 200-day moving average price is $18.38.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $12.31 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. HP’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts anticipate that HP Inc. will post $1.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a yield of 2.73%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio is presently 38.41%.
A number of equities analysts have recently weighed in on the company. UBS AG reaffirmed a “buy” rating and set a $22.00 target price (up from $20.00) on shares of HP in a research report on Thursday, May 25th. BidaskClub lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 target price on shares of HP in a research report on Thursday, August 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.00 target price (up from $18.00) on shares of HP in a research report on Friday, May 19th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $19.50 target price on shares of HP in a research report on Thursday, August 24th. Ten equities research 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $20.57.
In other HP news, insider Marie Myers sold 12,119 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 5,621 shares of the company’s stock, valued at $101,571.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total value of $1,311,138.24. Following the sale, the director now directly owns 544,881 shares of the company’s stock, valued at approximately $9,655,291.32. The disclosure for this sale can be found here. Insiders have sold 1,725,567 shares of company stock valued at $32,210,686 in the last three months. 0.62% of the stock is currently owned by corporate insiders.
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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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