HP Inc. (HPQ) Shares Bought by FTB Advisors Inc.
FTB Advisors Inc. raised its stake in HP Inc. (NYSE:HPQ) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,620 shares of the computer maker’s stock after acquiring an additional 6,789 shares during the quarter. FTB Advisors Inc.’s holdings in HP were worth $7,019,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in HPQ. Waldron LP bought a new position in HP in the 1st quarter valued at about $288,000. Private Advisor Group LLC raised its holdings 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 during the period. Aberdeen Asset Management PLC UK raised its holdings 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 during the period. NN Investment Partners Holdings N.V. raised its holdings 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 during the period. Finally, Meiji Yasuda Life Insurance Co raised its holdings 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 during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Royal Bank Of Canada upgraded shares of HP from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $21.00 to $22.00 in a research report on Thursday, July 20th. Stifel Nicolaus restated a “hold” rating and set a $14.00 target price on shares of HP in a research report on Thursday, August 24th. BMO Capital Markets restated a “hold” rating and set a $20.00 target price on shares of HP in a research report on Thursday, August 24th. Mizuho restated a “buy” rating and set a $21.00 target price on shares of HP in a research report on Thursday, August 24th. Finally, Guggenheim restated a “neutral” rating on shares of HP in a research report on Monday. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.57.
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HP Inc. (NYSE HPQ) traded down 0.10% during trading on Thursday, hitting $20.24. 4,499,941 shares of the stock traded hands. HP Inc. has a 12 month low of $13.77 and a 12 month high of $20.42. The company has a 50-day moving average price of $19.42 and a 200-day moving average price of $18.63. The stock has a market cap of $33.81 billion, a PE ratio of 14.71 and a beta of 1.94.
HP (NYSE:HPQ) last released its 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 company had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same quarter last year, the business earned $0.48 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect 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 paid a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Tuesday, September 12th. HP’s payout ratio is 38.41%.
In other HP news, insider Tracy S. Keogh sold 265,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total transaction of $5,285,440.00. Following the sale, the insider now owns 165,952 shares in the company, valued at approximately $3,302,444.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dion J. Weisler sold 731,502 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the sale, the insider now owns 435,018 shares in the company, valued at approximately $8,687,309.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,530,169 shares of company stock worth $48,902,046. 0.62% of the stock is owned by company insiders.
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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