HP Inc (HPQ) Position Reduced by First Republic Investment Management Inc.
First Republic Investment Management Inc. cut its holdings in HP Inc (NYSE:HPQ) by 5.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,043 shares of the computer maker’s stock after selling 3,500 shares during the period. First Republic Investment Management Inc.’s holdings in HP were worth $1,318,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HPQ. Wedbush Securities Inc. acquired a new position in HP in the second quarter valued at $183,000. Conning Inc. boosted its stake in HP by 8.4% in the second quarter. Conning Inc. now owns 51,389 shares of the computer maker’s stock valued at $898,000 after acquiring an additional 3,974 shares in the last quarter. Dupont Capital Management Corp boosted its stake in HP by 56.2% in the second quarter. Dupont Capital Management Corp now owns 309,566 shares of the computer maker’s stock valued at $5,411,000 after acquiring an additional 111,429 shares in the last quarter. LMR Partners LLP boosted its stake in HP by 106.4% in the second quarter. LMR Partners LLP now owns 93,380 shares of the computer maker’s stock valued at $1,632,000 after acquiring an additional 48,130 shares in the last quarter. Finally, Dowling & Yahnke LLC boosted its stake in shares of HP by 2.2% during the second quarter. Dowling & Yahnke LLC now owns 53,342 shares of the computer maker’s stock worth $932,000 after buying an additional 1,150 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.
In related news, insider Dion J. Weisler sold 731,502 shares of HP 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 sale, the insider now owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marie Myers sold 10,025 shares of HP stock in a transaction on Friday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $195,487.50. Following the sale, the insider now directly owns 10,025 shares in the company, valued at approximately $195,487.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,153,788 shares of company stock worth $44,328,625. 0.62% of the stock is owned by company insiders.
HPQ has been the subject of several recent research reports. Guggenheim reiterated a “neutral” rating on shares of HP in a research note on Monday, October 2nd. Morgan Stanley increased their target price on shares of HP from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Jefferies Group reissued a “hold” rating and set a $20.00 price target on shares of HP in a report on Sunday, October 8th. Susquehanna Bancshares reissued a “hold” rating and set a $20.00 price target on shares of HP in a report on Friday, August 25th. Finally, Deutsche Bank reissued a “buy” rating on shares of HP in a report on Thursday, August 24th. Twelve research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.31.
Shares of HP Inc (NYSE:HPQ) traded down $0.13 during midday trading on Thursday, reaching $20.85. 9,156,600 shares of the company were exchanged, compared to its average volume of 10,947,294. HP Inc has a 1 year low of $14.40 and a 1 year high of $22.68. The firm has a market capitalization of $35,058.63, a price-to-earnings ratio of 12.72, a P/E/G ratio of 2.22 and a beta of 1.81. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00.
HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. The company had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.36 billion. HP had a net margin of 4.85% and a negative return on equity of 70.25%. HP’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. analysts anticipate that HP Inc will post 1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be issued a $0.1393 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, December 12th. This is a positive change from HP’s previous quarterly dividend of $0.13. HP’s dividend payout ratio (DPR) is 35.57%.
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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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