Alps Advisors Inc. Reduces Position in HP Inc. (HPQ)
Alps Advisors Inc. cut its position in shares of HP Inc. (NYSE:HPQ) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,648,244 shares of the computer maker’s stock after selling 77,120 shares during the period. Alps Advisors Inc.’s holdings in HP were worth $46,291,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in HPQ. CWM LLC boosted its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of 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. NewSquare Capital LLC boosted its stake in shares of HP by 12.3% in the first quarter. NewSquare Capital LLC now owns 72,449 shares of the computer maker’s stock valued at $1,295,000 after buying an additional 7,960 shares during the last quarter. Rockland Trust Co. boosted its stake in shares of HP by 1.9% in the first quarter. Rockland Trust Co. now owns 156,887 shares of the computer maker’s stock valued at $2,805,000 after buying an additional 2,943 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in shares of HP during the first quarter valued at approximately $746,000. 79.90% of the stock is owned by institutional investors and hedge funds.
HP Inc. (HPQ) opened at 19.04 on Wednesday. The company has a 50 day moving average price of $18.60 and a 200-day moving average price of $17.92. The firm has a market capitalization of $32.05 billion, a price-to-earnings ratio of 13.47 and a beta of 1.90. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58.
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 Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Equities analysts predict that HP Inc. will post $1.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.79%. HP’s dividend payout ratio (DPR) is presently 37.32%.
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HPQ has been the subject of several recent research reports. Citigroup Inc. raised HP from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 18th. Morgan Stanley boosted their price target on HP from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, April 18th. Barclays PLC raised HP from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price target (up previously from $18.00) on shares of HP in a research note on Friday, May 19th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.89.
In related news, COO Jon E. Flaxman sold 35,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the sale, the chief operating officer now directly owns 62,203 shares in the company, valued at approximately $1,135,826.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marie Myers sold 12,119 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 5,621 shares of the company’s stock, valued at $101,571.47. The disclosure for this sale can be found here. Insiders sold a total of 1,748,815 shares of company stock valued at $32,623,560 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.
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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