Tokio Marine Asset Management Co. Ltd. cut its stake in HP Inc. (NYSE:HPQ) by 24.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,158 shares of the computer maker’s stock after selling 6,664 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in HP were worth $352,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of HPQ. BLB&B Advisors LLC increased its position in shares of HP by 0.6% in the first quarter. BLB&B Advisors LLC now owns 35,847 shares of the computer maker’s stock worth $641,000 after buying an additional 226 shares in the last quarter. Integrated Wealth Management acquired a new position in shares of HP during the first quarter worth approximately $190,000. Atria Investments LLC increased its position in shares of HP by 23.8% in the first quarter. Atria Investments LLC now owns 142,305 shares of the computer maker’s stock worth $2,544,000 after buying an additional 27,355 shares in the last quarter. Alpha Windward LLC increased its position in shares of HP by 177.7% in the first quarter. Alpha Windward LLC now owns 46,527 shares of the computer maker’s stock worth $832,000 after buying an additional 29,773 shares in the last quarter. Finally, ELM Advisors LLC increased its position in shares of HP by 0.5% in the first quarter. ELM Advisors LLC now owns 14,318 shares of the computer maker’s stock worth $256,000 after buying an additional 65 shares in the last quarter. 79.10% of the stock is owned by institutional investors.
HP Inc. (NYSE HPQ) opened at 19.37 on Friday. The company has a market capitalization of $32.61 billion, a price-to-earnings ratio of 13.70 and a beta of 1.90. HP Inc. has a 12-month low of $13.55 and a 12-month high of $19.58. The firm’s 50-day moving average price is $18.17 and its 200 day moving average price is $17.62.
HP (NYSE:HPQ) last issued its 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. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. HP’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. On average, equities research analysts expect that HP Inc. will post $1.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders 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 annualized dividend and a yield of 2.74%. HP’s dividend payout ratio is currently 37.32%.
HPQ has been the subject of a number of analyst reports. FBN Securities reissued an “outperform” rating and issued a $23.00 price target (up previously from $19.00) on shares of HP in a report on Sunday, May 28th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 12th. Mizuho raised HP from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $21.00 in a report on Monday, July 10th. BidaskClub upgraded HP from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley upped their price objective on HP from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, April 18th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. HP currently has an average rating of “Buy” and a consensus target price of $19.89.
In related news, COO Jon E. Flaxman sold 35,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $18.26, for a total transaction of $639,100.00. Following the sale, the chief operating officer now owns 62,203 shares in the company, valued at approximately $1,135,826.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret C. Whitman sold 443,920 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the sale, the director now owns 692,849 shares in the company, valued at approximately $13,385,842.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,748,815 shares of company stock worth $32,623,560. 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.
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