Kanawha Capital Management LLC Buys 1 Shares of HP Inc. (NYSE:HPQ)

Kanawha Capital Management LLC increased its stake in shares of HP Inc. (NYSE:HPQ) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,007 shares of the computer maker’s stock after buying an additional 1 shares during the period. Kanawha Capital Management LLC’s holdings in HP were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HPQ. Vanguard Group Inc. increased its stake in shares of HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock valued at $2,175,775,000 after buying an additional 2,122,269 shares during the last quarter. State Street Corp increased its stake in shares of HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock valued at $1,421,893,000 after buying an additional 515,648 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of 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. American International Group Inc. increased its stake in shares of HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock valued at $519,522,000 after buying an additional 457,514 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of HP by 4.8% in the first quarter. LSV Asset Management now owns 13,611,654 shares of the computer maker’s stock valued at $243,376,000 after buying an additional 621,847 shares during the last quarter. Hedge funds and other institutional investors own 79.10% of the company’s stock.

Shares of HP Inc. (HPQ) opened at 19.10 on Thursday. The stock has a 50 day moving average price of $18.17 and a 200-day moving average price of $17.62. HP Inc. has a 1-year low of $13.55 and a 1-year high of $19.58. The stock has a market capitalization of $32.15 billion, a PE ratio of 13.51 and a beta of 1.90.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the business posted $0.41 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, analysts forecast that HP Inc. will post $1.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.1327 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.78%. HP’s dividend payout ratio is presently 37.32%.

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Several analysts have weighed in on HPQ shares. Barclays PLC upgraded HP from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $22.00 in a research report on Wednesday, April 19th. Citigroup Inc. upgraded HP from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $17.54 to $20.00 in a research report on Wednesday, April 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $14.00 price objective on shares of HP in a research report on Friday, May 26th. Zacks Investment Research downgraded HP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC boosted their price objective on HP from $18.00 to $18.75 and gave the company a “hold” rating in a research report on Tuesday, July 18th. Nine research analysts have rated the stock with a hold rating, fifteen have given 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 $19.89.

In other news, COO Jon E. Flaxman sold 35,000 shares of HP stock in a transaction on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the transaction, the chief operating officer now directly owns 62,203 shares in the company, valued at approximately $1,135,826.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marie Myers sold 12,119 shares of HP stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total value of $218,990.33. Following the completion of the transaction, the insider now owns 5,621 shares in the company, valued at $101,571.47. The disclosure for this sale can be found here. Insiders sold a total of 1,748,815 shares of company stock worth $32,623,560 over the last quarter. Company insiders own 0.62% of the company’s stock.

About HP

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.