Meyer Handelman Co. lowered its stake in shares of HP Inc. (NYSE:HPQ) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,814 shares of the computer maker’s stock after selling 6,000 shares during the period. Meyer Handelman Co.’s holdings in HP were worth $7,617,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in HP during the first quarter valued at approximately $79,108,000. Renaissance Technologies LLC purchased a new stake in HP during the first quarter valued at approximately $62,824,000. DnB Asset Management AS raised its stake in HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock valued at $70,430,000 after buying an additional 3,443,455 shares during the last quarter. Morgan Stanley raised its stake in HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock valued at $131,121,000 after buying an additional 3,003,129 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock valued at $1,141,660,000 after buying an additional 2,163,147 shares during the last quarter. 79.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HP Inc. (HPQ) traded up 1.11% on Friday, reaching $19.15. 9,235,767 shares of the company’s stock traded hands. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58. The firm has a market capitalization of $32.24 billion, a price-to-earnings ratio of 13.54 and a beta of 1.89. The company has a 50 day moving average price of $17.98 and a 200 day moving average price of $17.35.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the firm earned $0.41 EPS. HP’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th were given a dividend of $0.1327 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.77%. HP’s dividend payout ratio (DPR) is 37.32%.
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Several analysts have recently commented on HPQ shares. Vetr lowered shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price target on the stock. in a research report on Monday, June 5th. ValuEngine raised shares of HP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Susquehanna Bancshares Inc initiated coverage on HP in a research report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 target price on the stock. Royal Bank Of Canada boosted their target price on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. raised HP from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.54 to $20.00 in a research report on Wednesday, April 12th. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.89.
In other HP news, Director Margaret C. Whitman sold 295,936 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $14,569,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ron Coughlin sold 10,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $18.95, for a total transaction of $189,500.00. Following the sale, the insider now owns 51,745 shares in the company, valued at $980,567.75. The disclosure for this sale can be found here. Insiders have sold a total of 1,213,319 shares of company stock worth $22,226,676 over the last 90 days. 0.62% of the stock is owned by insiders.
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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