Meeder Asset Management Inc. trimmed its stake in shares of HP Inc. (NYSE:HPQ) by 54.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 167,721 shares of the computer maker’s stock after selling 202,352 shares during the period. Meeder Asset Management Inc.’s holdings in HP were worth $3,487,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of HPQ. Buckingham Asset Management LLC lifted its holdings in HP by 96.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 22,036 shares of the computer maker’s stock valued at $458,000 after buying an additional 10,835 shares in the last quarter. AI Financial Services LLC lifted its holdings in HP by 9.2% during the 2nd quarter. AI Financial Services LLC now owns 123,166 shares of the computer maker’s stock valued at $2,561,000 after buying an additional 10,337 shares in the last quarter. RKL Wealth Management LLC lifted its holdings in HP by 1.3% during the 2nd quarter. RKL Wealth Management LLC now owns 57,677 shares of the computer maker’s stock valued at $1,198,000 after buying an additional 742 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in HP by 44.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 353,796 shares of the computer maker’s stock valued at $7,356,000 after buying an additional 109,436 shares in the last quarter. Finally, Institute for Wealth Management LLC. bought a new stake in HP during the 2nd quarter valued at about $304,000. 77.16% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of HP from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of HP from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, June 25th. Morgan Stanley raised their target price on shares of HP from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, May 24th. Barclays initiated coverage on shares of HP in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $21.00 target price on the stock. Finally, Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $21.00 in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.74.
In other HP news, Director Shumeet Banerji sold 28,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $560,000.00. Following the sale, the director now owns 31,311 shares of the company’s stock, valued at approximately $626,220. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dion J. Weisler sold 132,964 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $20.95, for a total transaction of $2,785,595.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,635 shares of company stock worth $4,423,266. Insiders own 0.28% of the company’s stock.
NYSE HPQ traded down $0.16 during trading on Tuesday, reaching $19.06. 2,627,848 shares of the company’s stock traded hands, compared to its average volume of 8,836,764. The firm has a market cap of $28.74 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 2.87 and a beta of 1.40. The company’s 50 day simple moving average is $20.56 and its two-hundred day simple moving average is $20.40. HP Inc. has a 12-month low of $18.06 and a 12-month high of $27.08.
HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, May 23rd. The computer maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. HP had a net margin of 6.67% and a negative return on equity of 232.81%. The firm had revenue of $14.04 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts predict that HP Inc. will post 2.17 earnings per share for the current year.
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 given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, September 10th. HP’s payout ratio is currently 31.68%.
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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