RKL Wealth Management LLC Buys 742 Shares of HP Inc. (NYSE:HPQ)
RKL Wealth Management LLC boosted its stake in shares of HP Inc. (NYSE:HPQ) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,677 shares of the computer maker’s stock after purchasing an additional 742 shares during the period. RKL Wealth Management LLC’s holdings in HP were worth $1,198,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of HPQ. AQR Capital Management LLC lifted its position in HP by 44.2% during the first quarter. AQR Capital Management LLC now owns 18,796,913 shares of the computer maker’s stock valued at $362,686,000 after purchasing an additional 5,761,703 shares during the period. Great West Life Assurance Co. Can lifted its position in HP by 43.3% during the first quarter. Great West Life Assurance Co. Can now owns 4,453,835 shares of the computer maker’s stock valued at $86,294,000 after purchasing an additional 1,345,969 shares during the period. LSV Asset Management lifted its position in HP by 8.1% during the first quarter. LSV Asset Management now owns 16,092,374 shares of the computer maker’s stock valued at $312,674,000 after purchasing an additional 1,199,670 shares during the period. FIL Ltd lifted its position in HP by 151.4% during the first quarter. FIL Ltd now owns 1,823,533 shares of the computer maker’s stock valued at $35,431,000 after purchasing an additional 1,098,323 shares during the period. Finally, Marshall Wace LLP bought a new position in HP during the first quarter valued at approximately $20,983,000. Institutional investors own 78.06% of the company’s stock.
HPQ traded up $0.45 during trading on Friday, hitting $19.08. The company’s stock had a trading volume of 10,938,900 shares, compared to its average volume of 8,674,363. HP Inc. has a one year low of $18.06 and a one year high of $27.08. The firm has a market cap of $28.06 billion, a PE ratio of 9.45, a P/E/G ratio of 2.80 and a beta of 1.40. The business’s 50 day simple moving average is $20.66 and its 200-day simple moving average is $20.42.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.35%. HP’s dividend payout ratio (DPR) is presently 31.68%.
A number of brokerages recently weighed in on HPQ. Wolfe Research downgraded shares of HP from an “outperform” rating to a “peer perform” rating and lowered their price objective for the company from $25.00 to $21.00 in a research report on Tuesday, May 14th. Deutsche Bank started coverage on shares of HP in a research report on Wednesday, June 19th. They set a “hold” rating and a $20.00 price objective on the stock. Morgan Stanley increased their price target on shares of HP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, May 24th. Zacks Investment Research upgraded shares of HP from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Evercore ISI started coverage on shares of HP in a research report on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. HP currently has a consensus rating of “Hold” and a consensus price target of $24.24.
In other news, Director Shumeet Banerji sold 28,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.00, for a total value of $560,000.00. Following the completion of the sale, the director now directly owns 31,311 shares of the company’s stock, valued at $626,220. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Claire Bramley sold 15,819 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.00, for a total transaction of $316,380.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,635 shares of company stock valued at $4,423,266. Corporate insiders own 0.25% of the company’s stock.
HP Company Profile
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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