Gamco Investors INC. ET AL cut its position in shares of HP Inc. (NYSE:HPQ) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,049 shares of the computer maker’s stock after selling 3,600 shares during the period. Gamco Investors INC. ET AL’s holdings in HP were worth $1,592,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners raised its position in shares of HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in HP during the first quarter valued at about $79,108,000. Renaissance Technologies LLC purchased a new position in HP during the first quarter valued at about $62,824,000. Morgan Stanley raised its position 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, DekaBank Deutsche Girozentrale purchased a new position in HP during the second quarter valued at about $50,275,000. Institutional investors and hedge funds own 79.90% of the company’s stock.
HP Inc. (HPQ) opened at 19.31 on Friday. The stock has a market capitalization of $32.46 billion, a P/E ratio of 14.03 and a beta of 1.90. The firm’s 50-day moving average is $18.86 and its 200-day moving average is $18.09. HP Inc. has a 12-month low of $13.77 and a 12-month high of $19.78.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. Analysts predict that HP Inc. will post $1.65 EPS for the current fiscal 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 given a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is 38.41%.
HPQ has been the subject of several analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 price target (up previously from $18.00) on shares of HP in a 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 report on Tuesday, May 23rd. BMO Capital Markets raised their price target on shares of HP from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, May 25th. Citigroup Inc. set a $20.00 price target on shares of HP and gave the stock a “buy” rating in a report on Thursday, May 25th. Finally, Mizuho raised their price target on shares of HP from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 25th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.53.
In other news, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $17.72, for a total value of $1,311,138.24. Following the completion of the transaction, the director now directly owns 544,881 shares of the company’s stock, valued at approximately $9,655,291.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the transaction, the director now directly owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,713,815 shares of company stock valued at $31,984,460. Corporate insiders own 0.62% of the company’s stock.
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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