Morgan Dempsey Capital Management LLC raised its stake in shares of HP Inc. (NYSE:HPQ) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 329,683 shares of the computer maker’s stock after buying an additional 16,687 shares during the period. HP comprises 2.1% of Morgan Dempsey Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Morgan Dempsey Capital Management LLC’s holdings in HP were worth $5,770,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of HPQ. Skandinaviska Enskilda Banken AB publ acquired a new stake in HP during the first quarter valued at about $79,108,000. Renaissance Technologies LLC acquired a new stake in HP during the first quarter valued at about $62,824,000. DnB Asset Management AS increased 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 increased 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 increased 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. 78.97% of the stock is owned by institutional investors and hedge funds.
Shares of HP Inc. (NYSE HPQ) opened at 19.32 on Wednesday. The stock’s 50 day moving average price is $18.32 and its 200 day moving average price is $17.66. HP Inc. has a 12 month low of $13.55 and a 12 month high of $19.58. The company has a market capitalization of $32.52 billion, a PE ratio of 13.66 and a beta of 1.90.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the 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 firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts forecast that HP Inc. will post $1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is currently 37.32%.
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Several analysts recently issued reports on HPQ shares. Vetr downgraded shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price target for the company. in a research report on Monday, June 5th. ValuEngine raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Susquehanna Bancshares Inc began coverage on shares of HP in a report on Thursday, July 13th. They set a “neutral” rating and a $20.00 price objective on the stock. Royal Bank Of Canada lifted their price objective on shares of HP from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Thursday, May 25th. Finally, Citigroup Inc. raised shares of HP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.54 to $20.00 in a report on Wednesday, April 12th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. HP has an average rating of “Buy” and a consensus target price of $19.89.
In related news, insider Marie Myers sold 12,119 shares of HP stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total transaction of $218,990.33. Following the sale, the insider now owns 5,621 shares of the company’s stock, valued at approximately $101,571.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jon E. Flaxman sold 35,000 shares of HP stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the sale, the chief operating officer now directly owns 62,203 shares in the company, valued at approximately $1,135,826.78. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock worth $32,623,560 in the last ninety days. Corporate 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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