Barings LLC Maintains Position in HP Inc. (HPQ)
Barings LLC continued to hold its position in shares of HP Inc. (NYSE:HPQ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 202,337 shares of the computer maker’s stock at the close of the 2nd quarter. Barings LLC’s holdings in HP were worth $3,618,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HPQ. Waldron LP bought a new stake in HP in the 1st quarter valued at approximately $288,000. Private Advisor Group LLC lifted its stake in HP by 8.2% in the 1st quarter. Private Advisor Group LLC now owns 61,226 shares of the computer maker’s stock valued at $1,084,000 after acquiring an additional 4,636 shares in the last quarter. Aberdeen Asset Management PLC UK lifted its stake in HP by 125.2% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 2,417,392 shares of the computer maker’s stock valued at $43,222,000 after acquiring an additional 1,344,015 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its stake in HP by 131.7% in the 1st quarter. NN Investment Partners Holdings N.V. now owns 1,023,160 shares of the computer maker’s stock valued at $18,293,000 after acquiring an additional 581,538 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co lifted its stake in HP by 28.3% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 17,720 shares of the computer maker’s stock valued at $317,000 after acquiring an additional 3,910 shares in the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.
Several equities research analysts have commented on HPQ shares. ValuEngine upgraded HP from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Susquehanna Bancshares Inc started coverage on HP in a research note on Thursday, July 13th. They issued a “neutral” rating and a $20.00 target price on the stock. Guggenheim restated a “neutral” rating on shares of HP in a research note on Monday. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG restated a “buy” rating on shares of HP in a research note on Thursday, August 24th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $20.57.
In other news, insider Dion J. Weisler sold 731,502 shares of HP stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total value of $14,608,094.94. Following the completion of the transaction, the insider now directly owns 435,018 shares in the company, valued at $8,687,309.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tracy S. Keogh sold 265,600 shares of HP stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total value of $5,285,440.00. Following the completion of the transaction, the insider now owns 165,952 shares of the company’s stock, valued at $3,302,444.80. The disclosure for this sale can be found here. Insiders sold 2,530,169 shares of company stock valued at $48,902,046 over the last three months. Company insiders own 0.62% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) traded up 0.20% on Thursday, reaching $20.30. The company’s stock had a trading volume of 3,029,742 shares. The stock has a market cap of $33.91 billion, a P/E ratio of 14.75 and a beta of 1.94. The firm’s 50 day moving average is $19.42 and its 200-day moving average is $18.63. HP Inc. has a 52-week low of $13.77 and a 52-week high of $20.42.
HP (NYSE:HPQ) last released its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ 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 the consensus estimate of $12.31 billion. During the same period last 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. On average, equities research analysts forecast that HP Inc. will post $1.65 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, September 12th. 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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