HP Inc. (HPQ) Shares Sold by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company lessened its stake in shares of HP Inc. (NYSE:HPQ) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,030,252 shares of the computer maker’s stock after selling 1,794 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of HP worth $35,490,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of HP by 0.4% during the 1st quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock worth $218,000 after purchasing an additional 41 shares in the last quarter. Montecito Bank & Trust boosted its position in shares of HP by 0.3% during the 2nd quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock worth $303,000 after purchasing an additional 60 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of HP by 1.1% during the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after purchasing an additional 85 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of HP by 0.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 17,435 shares of the computer maker’s stock worth $305,000 after purchasing an additional 127 shares in the last quarter. Finally, Advisor Partners LLC boosted its position in shares of HP by 0.4% during the 2nd quarter. Advisor Partners LLC now owns 43,215 shares of the computer maker’s stock worth $755,000 after purchasing an additional 158 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Loop Capital upped their target price on shares of HP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday. Jefferies Group LLC restated a “hold” rating and issued a $20.00 target price on shares of HP in a report on Sunday, October 8th. Deutsche Bank AG restated a “buy” rating and issued a $23.00 target price (up previously from $22.00) on shares of HP in a report on Friday, October 6th. Finally, Guggenheim restated a “neutral” rating on shares of HP in a report on Monday, October 2nd. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $21.01.
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In other HP news, insider Enrique Lores sold 40,965 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $20.50, for a total transaction of $839,782.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret C. Whitman sold 295,936 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.00, for a total transaction of $5,622,784.00. Following the sale, the director now directly owns 766,825 shares of the company’s stock, valued at $14,569,675. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,127,206 shares of company stock valued at $41,757,043. 0.62% of the stock is owned by corporate insiders.
HP Inc. (NYSE:HPQ) traded up 5.956% on Friday, reaching $21.615. 7,199,932 shares of the company traded hands. The stock has a market capitalization of $36.10 billion, a price-to-earnings ratio of 15.709 and a beta of 1.94. The stock’s 50-day moving average is $19.72 and its 200-day moving average is $18.76. HP Inc. has a 1-year low of $13.77 and a 1-year high of $21.78.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The business had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that HP Inc. will post $1.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were issued a dividend of $0.1327 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.60%. HP’s dividend payout ratio is currently 38.41%.
HP Company Profile
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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