Financial Advisors Network Inc. Purchases 629 Shares of HP Inc. (HPQ)
Financial Advisors Network Inc. boosted its position in HP Inc. (NYSE:HPQ) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,092 shares of the computer maker’s stock after buying an additional 629 shares during the period. Financial Advisors Network Inc.’s holdings in HP were worth $334,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in HP during the first quarter worth approximately $833,000. ZWJ Investment Counsel Inc. purchased a new position in HP during the first quarter worth approximately $443,000. Cornerstone Capital Management Holdings LLC. boosted its position in HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock worth $26,145,000 after buying an additional 754,019 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock worth $4,476,000 after buying an additional 6,074 shares during the last quarter. Finally, American Beacon Advisors Inc. purchased a new position in HP during the first quarter worth approximately $112,000. 79.90% of the stock is currently owned by institutional investors and hedge funds.
HP Inc. (NYSE:HPQ) opened at 18.51 on Friday. The company has a 50-day moving average of $18.67 and a 200-day moving average of $17.95. The company has a market cap of $31.16 billion, a price-to-earnings ratio of 13.09 and a beta of 1.90. HP Inc. has a 12 month low of $13.55 and a 12 month high of $19.58.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period 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. Analysts predict that HP Inc. will post $1.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.87%. HP’s dividend payout ratio (DPR) is presently 37.32%.
ILLEGAL ACTIVITY NOTICE: “Financial Advisors Network Inc. Purchases 629 Shares of HP Inc. (HPQ)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.watchlistnews.com/financial-advisors-network-inc-purchases-629-shares-of-hp-inc-hpq/1507371.html.
Several analysts recently issued reports on the stock. BidaskClub raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Credit Suisse Group reaffirmed a “buy” rating and issued a $19.00 price target on shares of HP in a report on Tuesday, May 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 price target on shares of HP in a report on Wednesday. Citigroup Inc. set a $20.00 price target on shares of HP and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, BMO Capital Markets upped their price target on shares of HP from $17.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. HP currently has an average rating of “Buy” and an average price target of $19.89.
In other news, Director Margaret C. Whitman sold 443,920 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the sale, the director now directly owns 692,849 shares in the company, valued at $13,385,842.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were 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 owns 62,203 shares of the company’s stock, valued at $1,135,826.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,748,815 shares of company stock valued at $32,623,560. 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.
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.