Investment Centers of America Inc. Takes $202,000 Position in HP Inc. (HPQ)
Investment Centers of America Inc. acquired a new position in shares of HP Inc. (NYSE:HPQ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,877 shares of the computer maker’s stock, valued at approximately $202,000.
Other large investors also recently modified their holdings of the company. Trexquant Investment LP bought a new position in shares of HP in the 1st quarter valued at about $833,000. ZWJ Investment Counsel Inc. bought a new position in shares of HP in the 1st quarter valued at about $443,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of HP by 106.5% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after purchasing an additional 754,019 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of HP by 2.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after purchasing an additional 6,074 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of HP in the 1st quarter valued at about $112,000. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on HPQ. Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 target price (up previously from $18.75) on shares of HP in a research note on Thursday, August 24th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 target price 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 target price on shares of HP in a research note on Thursday, August 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $20.00 target price on shares of HP in a research note on Thursday, August 24th. Finally, Mizuho reiterated a “buy” rating and issued a $21.00 price target on shares of HP in a research report on Thursday, August 24th. 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 company’s stock. HP presently has an average rating of “Buy” and an average price target of $20.57.
Shares of HP Inc. (NYSE HPQ) opened at 19.60 on Thursday. The firm has a market cap of $32.74 billion, a P/E ratio of 14.24 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 stock’s 50 day moving average price is $19.18 and its 200-day moving average price is $18.44.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 EPS. On average, analysts predict that HP Inc. will post $1.65 earnings per share for the current fiscal 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 dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.71%. HP’s payout ratio is 38.41%.
In other news, insider Marie Myers sold 10,025 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $195,487.50. Following the completion of the transaction, the insider now owns 10,025 shares in the company, valued at approximately $195,487.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Margaret C. Whitman sold 147,968 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $18.00, for a total value of $2,663,424.00. Following the transaction, the director now owns 618,857 shares of the company’s stock, valued at approximately $11,139,426. The disclosure for this sale can be found here. Insiders have sold a total of 1,587,608 shares of company stock valued at $29,785,377 in the last quarter. 0.62% of the stock is 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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