Ajo LP Grows Position in HP Inc. (HPQ)
Ajo LP increased its holdings in HP Inc. (NYSE:HPQ) by 2.1% during the first quarter, HoldingsChannel reports. The firm owned 11,126,218 shares of the computer maker’s stock after purchasing an additional 224,949 shares during the period. HP makes up 1.1% of Ajo LP’s portfolio, making the stock its 17th largest holding. Ajo LP’s holdings in HP were worth $216,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oak Associates Ltd. OH grew its position in HP by 4.9% during the fourth quarter. Oak Associates Ltd. OH now owns 470,771 shares of the computer maker’s stock valued at $9,632,000 after purchasing an additional 21,940 shares in the last quarter. Clearstead Advisors LLC purchased a new position in HP during the fourth quarter valued at approximately $460,000. Westpac Banking Corp grew its position in HP by 180.5% during the fourth quarter. Westpac Banking Corp now owns 382,337 shares of the computer maker’s stock valued at $7,823,000 after purchasing an additional 246,033 shares in the last quarter. Inlet Private Wealth LLC grew its position in HP by 28.0% during the first quarter. Inlet Private Wealth LLC now owns 51,216 shares of the computer maker’s stock valued at $995,000 after purchasing an additional 11,216 shares in the last quarter. Finally, CFO4Life Group LLC grew its position in HP by 38.7% during the fourth quarter. CFO4Life Group LLC now owns 17,231 shares of the computer maker’s stock valued at $353,000 after purchasing an additional 4,804 shares in the last quarter. Institutional investors and hedge funds own 79.01% of the company’s stock.
HPQ stock opened at $18.68 on Monday. The company has a market capitalization of $29.35 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 2.88 and a beta of 1.38. HP Inc. has a 12 month low of $18.06 and a 12 month high of $27.08.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be given a $0.1602 dividend. This represents a $0.64 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, June 11th. HP’s dividend payout ratio is 31.68%.
A number of research analysts recently commented on HPQ shares. Bank of America downgraded shares of HP from a “buy” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a research report on Thursday, February 28th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of HP in a research report on Thursday, February 28th. Zacks Investment Research raised shares of HP from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine raised shares of HP from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Morgan Stanley boosted their price objective on shares of HP from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.40.
In other HP news, CEO Dion J. Weisler sold 36,799 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $20.00, for a total value of $735,980.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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