Neuberger Berman Group LLC boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,730 shares of the computer maker’s stock after purchasing an additional 13,904 shares during the period. Neuberger Berman Group LLC’s holdings in HP were worth $5,012,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. High Pointe Capital Management LLC increased its holdings in HP by 13.8% during the 2nd quarter. High Pointe Capital Management LLC now owns 74,900 shares of the computer maker’s stock valued at $1,309,000 after purchasing an additional 9,060 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in HP during the 2nd quarter valued at $557,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in HP by 15.4% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 401,658 shares of the computer maker’s stock valued at $7,021,000 after purchasing an additional 53,618 shares in the last quarter. Airain ltd increased its holdings in HP by 146.9% during the 2nd quarter. Airain ltd now owns 261,487 shares of the computer maker’s stock valued at $4,571,000 after purchasing an additional 155,584 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in HP by 18.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,668,374 shares of the computer maker’s stock valued at $29,164,000 after purchasing an additional 257,228 shares in the last quarter. 79.18% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on HPQ. Vetr lowered HP from a “buy” rating to a “hold” rating and set a $19.72 price objective on the stock. in a research report on Monday, June 5th. ValuEngine upgraded HP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Susquehanna Bancshares Inc began coverage on HP in a research report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 price objective on the stock. Royal Bank Of Canada increased their price objective on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Thursday, May 25th. Finally, Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, July 12th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.57.
In related news, insider Marie Myers sold 12,119 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $101,571.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 295,952 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $18.02, for a total transaction of $5,333,055.04. Following the completion of the transaction, the director now directly owns 618,865 shares in the company, valued at approximately $11,151,947.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,587,608 shares of company stock worth $29,785,377 in the last three months. Insiders own 0.62% of the company’s stock.
Shares of HP Inc. (HPQ) opened at 19.49 on Wednesday. The firm has a market cap of $32.55 billion, a P/E ratio of 14.16 and a beta of 1.93. The firm has a 50 day moving average price of $19.18 and a 200 day moving average price of $18.44. HP Inc. has a 1-year low of $13.77 and a 1-year high of $19.78.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. Analysts anticipate that HP Inc. will post $1.65 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 given a dividend of $0.1327 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.72%. HP’s dividend payout ratio (DPR) is presently 38.41%.
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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