Chicago Equity Partners LLC Lowers Position in HP Inc. (HPQ)
Chicago Equity Partners LLC lowered its stake in shares of HP Inc. (NYSE:HPQ) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,040,005 shares of the computer maker’s stock after selling 330 shares during the period. Chicago Equity Partners LLC owned 0.06% of HP worth $18,179,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. American Beacon Advisors Inc. purchased a new position in shares of HP during the first quarter valued at $112,000. YorkBridge Wealth Partners LLC boosted its position in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares in the last quarter. First Command Bank boosted its position in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after buying an additional 3,264 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of HP by 15.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock valued at $130,000 after buying an additional 996 shares in the last quarter. 78.50% of the stock is owned by institutional investors and hedge funds.
Shares of HP Inc. (NYSE:HPQ) traded up 0.2853% on Thursday, hitting $19.2247. The stock had a trading volume of 1,201,874 shares. The stock has a market capitalization of $32.32 billion, a PE ratio of 13.9714 and a beta of 1.90. HP Inc. has a one year low of $13.77 and a one year high of $19.78. The firm’s 50 day moving average is $18.86 and its 200-day moving average is $18.09.
HP (NYSE:HPQ) last posted its 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. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same quarter last year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders 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 annualized dividend and a dividend yield of 2.77%. HP’s dividend payout ratio is currently 38.41%.
Several research analysts recently weighed in on the company. UBS AG reaffirmed a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of HP in a research note on Thursday, May 25th. BidaskClub downgraded HP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 target price on shares of HP in a report on Thursday, August 24th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 target price on shares of HP in a report on Thursday, August 24th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $19.50 target price on shares of HP in a report on Thursday, August 24th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. HP has an average rating of “Buy” and a consensus price target of $20.53.
In other HP news, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the transaction, the director now owns 544,881 shares of the company’s stock, valued at approximately $9,655,291.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the transaction, the director now directly owns 692,849 shares in the company, valued at approximately $13,413,556.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,713,815 shares of company stock worth $31,984,460. 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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