AHL Partners LLP Has $6.27 Million Position in HP Inc. (HPQ)
AHL Partners LLP lowered its stake in HP Inc. (NYSE:HPQ) by 48.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,622 shares of the computer maker’s stock after selling 334,289 shares during the quarter. AHL Partners LLP’s holdings in HP were worth $6,269,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Employees Retirement System of Texas increased its stake in HP by 6.1% in the 2nd quarter. Employees Retirement System of Texas now owns 417,000 shares of the computer maker’s stock worth $7,289,000 after purchasing an additional 24,000 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in HP by 425.7% in the 2nd quarter. Tudor Investment Corp ET AL now owns 66,242 shares of the computer maker’s stock worth $1,158,000 after purchasing an additional 53,642 shares in the last quarter. HighTower Advisors LLC increased its stake in HP by 12.1% in the 2nd quarter. HighTower Advisors LLC now owns 108,810 shares of the computer maker’s stock worth $1,898,000 after purchasing an additional 11,782 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in HP by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after purchasing an additional 200 shares in the last quarter. Finally, People s United Financial Inc. increased its stake in HP by 251.9% in the 2nd quarter. People s United Financial Inc. now owns 58,706 shares of the computer maker’s stock worth $1,026,000 after purchasing an additional 42,024 shares in the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on HPQ shares. BidaskClub cut HP from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, July 12th. Mizuho raised HP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. Loop Capital started coverage on HP in a research note on Tuesday, August 22nd. They issued a “buy” rating and a $23.00 price target on the stock. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 price target on shares of HP in a research note on Thursday, August 24th. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.57.
Shares of HP Inc. (NYSE:HPQ) opened at 20.35 on Friday. HP Inc. has a one year low of $13.77 and a one year high of $20.42. The firm has a market capitalization of $33.99 billion, a price-to-earnings ratio of 14.79 and a beta of 1.94. The stock’s 50 day moving average price is $19.46 and its 200 day moving average price is $18.65.
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, beating the Zacks’ consensus estimate of $0.42 by $0.01. The firm 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 business’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Analysts expect that HP Inc. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a dividend of $0.1327 per share. The ex-dividend date was Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.61%. HP’s payout ratio is currently 38.41%.
In other HP news, CEO Dion J. Weisler sold 95,521 shares of HP stock in a transaction on Monday, September 25th. The stock was sold at an average price of $19.97, for a total value of $1,907,554.37. Following the completion of the transaction, the chief executive officer now directly owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owns 165,952 shares of the company’s stock, valued at $3,302,444.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,530,169 shares of company stock valued at $48,902,046. 0.62% of the stock is currently owned by 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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