Dodge & Cox Sells 1,316,512 Shares of HP Inc. (HPQ)
Dodge & Cox reduced its stake in shares of HP Inc. (NYSE:HPQ) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,747,562 shares of the computer maker’s stock after selling 1,316,512 shares during the period. HP accounts for approximately 1.7% of Dodge & Cox’s portfolio, making the stock its 24th biggest holding. Dodge & Cox owned 6.94% of HP worth $2,040,747,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in HP by 0.4% during the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock valued at $218,000 after buying an additional 41 shares in the last quarter. Montecito Bank & Trust raised its holdings in HP by 0.3% during the second quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock valued at $303,000 after buying an additional 60 shares in the last quarter. Savant Capital LLC raised its holdings in HP by 0.3% during the first quarter. Savant Capital LLC now owns 24,276 shares of the computer maker’s stock valued at $434,000 after buying an additional 80 shares in the last quarter. D.A. Davidson & CO. raised its holdings in HP by 1.1% during the second quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock valued at $132,000 after buying an additional 85 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its holdings in HP by 0.7% during the second quarter. Rehmann Capital Advisory Group now owns 17,435 shares of the computer maker’s stock valued at $305,000 after buying an additional 127 shares in the last quarter. Institutional investors own 79.18% of the company’s stock.
A number of research firms have recently commented on HPQ. UBS AG reiterated a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of HP in a research note on Thursday, May 25th. Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $20.00 price objective on shares of HP in a research note on Friday, August 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 price objective (up from $19.00) on shares of HP in a research note on Tuesday, September 5th. Royal Bank Of Canada upgraded HP from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $22.00 in a research note on Thursday, July 20th. Finally, BidaskClub lowered HP from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. HP has a consensus rating of “Buy” and an average price target of $20.57.
In other HP news, insider Marie Myers sold 12,119 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total value of $218,990.33. Following the sale, the insider now owns 5,621 shares in the company, valued at $101,571.47. 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 147,968 shares of the firm’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 owns 618,857 shares in the company, valued at approximately $11,139,426. The disclosure for this sale can be found here. Insiders sold 1,587,608 shares of company stock worth $29,785,377 in the last 90 days. Company insiders own 0.62% of the company’s stock.
Shares of HP Inc. (HPQ) traded down 0.0238% on Friday, hitting $19.7653. The stock had a trading volume of 1,632,779 shares. HP Inc. has a 12-month low of $13.77 and a 12-month high of $19.80. The firm has a market capitalization of $33.01 billion, a P/E ratio of 14.3643 and a beta of 1.93. The company has a 50 day moving average of $19.18 and a 200-day moving average of $18.44.
HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.31 billion. During the same quarter last year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts predict that HP Inc. will post $1.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.71%. HP’s dividend payout ratio is currently 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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