Bank of Montreal Can Sells 505,114 Shares of HP Inc. (HPQ)
Bank of Montreal Can lowered its position in HP Inc. (NYSE:HPQ) by 31.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,109,808 shares of the computer maker’s stock after selling 505,114 shares during the period. Bank of Montreal Can’s holdings in HP were worth $19,399,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HP during the first quarter worth $79,108,000. Renaissance Technologies LLC purchased a new position in shares of HP during the first quarter worth $62,824,000. DnB Asset Management AS boosted its position 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 worth $70,430,000 after buying an additional 3,443,455 shares in the last quarter. Morgan Stanley boosted its position in shares of HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock worth $131,121,000 after buying an additional 3,003,129 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares in the last quarter. 79.49% of the stock is currently owned by institutional investors.
HP Inc. (HPQ) opened at 18.39 on Wednesday. The company has a 50-day moving average of $17.98 and a 200-day moving average of $17.33. The firm has a market cap of $30.96 billion, a price-to-earnings ratio of 13.01 and a beta of 1.89. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th were issued a dividend of $0.1327 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.89%. HP’s dividend payout ratio (DPR) is presently 37.32%.
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A number of equities analysts have recently weighed in on HPQ shares. Vetr cut shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price target on the stock. in a research report on Monday, June 5th. ValuEngine raised shares of HP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Susquehanna Bancshares Inc started coverage on shares of 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 boosted their price objective on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. raised shares of HP from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $17.54 to $20.00 in a research report on Wednesday, April 12th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.84.
In related news, Director Margaret C. Whitman sold 147,976 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $17.92, for a total transaction of $2,651,729.92. Following the completion of the sale, the director now owns 618,865 shares in the company, valued at $11,090,060.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret C. Whitman sold 295,952 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $18.02, for a total transaction of $5,333,055.04. Following the sale, the director now owns 618,865 shares of the company’s stock, valued at approximately $11,151,947.30. The disclosure for this sale can be found here. Insiders have sold 917,383 shares of company stock valued at $16,603,892 in 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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