TrimTabs Asset Management LLC increased its position in HP Inc. (NYSE:HPQ) by 104.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,205 shares of the computer maker’s stock after buying an additional 7,269 shares during the period. TrimTabs Asset Management LLC’s holdings in HP were worth $248,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. First Houston Capital Inc. boosted its position in shares of HP by 15.1% in the second quarter. First Houston Capital Inc. now owns 80,600 shares of the computer maker’s stock worth $1,409,000 after buying an additional 10,600 shares during the period. Pax World Management LLC raised its stake in shares of HP by 10.8% in the second quarter. Pax World Management LLC now owns 13,329 shares of the computer maker’s stock worth $233,000 after buying an additional 1,300 shares in the last quarter. Peddock Capital Advisors LLC acquired a new stake in shares of HP during the second quarter worth $815,000. Financial Advisors Network Inc. raised its stake in shares of HP by 3.4% in the second quarter. Financial Advisors Network Inc. now owns 19,092 shares of the computer maker’s stock worth $334,000 after buying an additional 629 shares in the last quarter. Finally, BB&T Securities LLC raised its stake in shares of HP by 35.7% in the second quarter. BB&T Securities LLC now owns 89,889 shares of the computer maker’s stock worth $1,571,000 after buying an additional 23,664 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of HP Inc. (HPQ) opened at 19.02 on Wednesday. HP Inc. has a 1-year low of $13.55 and a 1-year high of $19.58. The firm’s 50-day moving average price is $18.71 and its 200 day moving average price is $18.02. The stock has a market capitalization of $32.02 billion, a price-to-earnings ratio of 13.45 and a beta of 1.90.
HP (NYSE:HPQ) last released 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 net margin of 4.94% and a negative return on equity of 68.86%. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts expect that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a $0.1327 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.79%. HP’s dividend payout ratio is presently 37.32%.
HPQ has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Tuesday, April 25th. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 price target (up from $18.00) on shares of HP in a research report on Friday, May 19th. Credit Suisse Group restated a “buy” rating and set a $19.00 price target on shares of HP in a research report on Tuesday, May 23rd. BMO Capital Markets lifted their price target on HP from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. set a $20.00 price target on HP and gave the company a “buy” rating in a research report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. HP presently has a consensus rating of “Buy” and an average target price of $20.02.
In other HP news, insider Marie Myers sold 12,119 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 5,621 shares in the company, valued at approximately $101,571.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jon E. Flaxman sold 35,000 shares of the company’s 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 completion of the transaction, the chief operating officer now owns 62,203 shares in the company, valued at approximately $1,135,826.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,748,815 shares of company stock worth $32,623,560. 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.
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