HP Inc. (HPQ) Holdings Trimmed by Mckinley Capital Management LLC Delaware
Mckinley Capital Management LLC Delaware decreased its holdings in HP Inc. (NYSE:HPQ) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,360 shares of the computer maker’s stock after selling 73 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in HP were worth $146,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. ZWJ Investment Counsel Inc. bought a new position in HP during the 1st quarter valued at about $443,000. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of HP by 106.5% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after acquiring an additional 754,019 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of HP by 2.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after acquiring an additional 6,074 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of HP during the 1st quarter valued at about $112,000. Finally, Loomis Sayles & Co. L P grew its stake in shares of HP by 1,201.3% in the first quarter. Loomis Sayles & Co. L P now owns 17,893 shares of the computer maker’s stock worth $320,000 after acquiring an additional 16,518 shares during the period. 79.18% of the stock is owned by institutional investors and hedge funds.
HPQ has been the subject of several research reports. Jefferies Group LLC reissued a “hold” rating and set a $20.00 price objective (up from $19.00) on shares of HP in a report on Tuesday, September 5th. Deutsche Bank AG restated a “buy” rating on shares of HP in a research report on Thursday, August 24th. Susquehanna Bancshares Inc restated a “hold” rating and issued a $20.00 target price on shares of HP in a report on Friday, August 25th. FBN Securities restated an “outperform” rating and issued a $25.00 target price (up previously from $23.00) on shares of HP in a report on Thursday, August 24th. Finally, Mizuho reaffirmed a “buy” rating and issued a $21.00 target price on shares of HP in a research report on Thursday, August 24th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.57.
In other HP news, insider Dion J. Weisler sold 731,502 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the transaction, the insider now directly owns 435,018 shares of the company’s stock, valued at $8,687,309.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Margaret C. Whitman sold 147,976 shares of HP 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 approximately $11,090,060.80. The disclosure for this sale can be found here. In the last three months, insiders sold 2,530,169 shares of company stock valued at $48,902,046. 0.62% of the stock is owned by insiders.
Shares of HP Inc. (NYSE HPQ) opened at 19.96 on Monday. The company has a 50 day moving average price of $19.18 and a 200-day moving average price of $18.44. HP Inc. has a 52-week low of $13.77 and a 52-week high of $20.11. The stock has a market capitalization of $33.34 billion, a P/E ratio of 14.51 and a beta of 1.94.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. During the same quarter last year, the firm posted $0.48 EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, analysts predict that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is presently 38.41%.
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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