HP Inc. (HPQ) Shares Bought by Intrust Bank NA
Intrust Bank NA lifted its stake in shares of HP Inc. (NYSE:HPQ) by 10.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 35,786 shares of the computer maker’s stock after acquiring an additional 3,271 shares during the period. Intrust Bank NA’s holdings in HP were worth $812,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bedel Financial Consulting Inc. bought a new stake in shares of HP during the 1st quarter worth $105,000. Rockefeller Capital Management L.P. bought a new stake in shares of HP during the 1st quarter worth $106,000. NuWave Investment Management LLC bought a new stake in shares of HP during the 2nd quarter worth $116,000. Institutional & Family Asset Management LLC bought a new stake in shares of HP during the 1st quarter worth $118,000. Finally, Highlander Capital Management LLC bought a new stake in shares of HP during the 1st quarter worth $184,000. 79.80% of the stock is owned by institutional investors.
In other news, insider Tracy S. Keogh sold 117,276 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $23.00, for a total transaction of $2,697,348.00. Following the completion of the transaction, the insider now directly owns 340,453 shares of the company’s stock, valued at $7,830,419. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tracy S. Keogh sold 117,275 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $24.00, for a total transaction of $2,814,600.00. Following the transaction, the insider now directly owns 243,526 shares of the company’s stock, valued at $5,844,624. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,021 shares of company stock valued at $5,705,488. Insiders own 0.25% of the company’s stock.
HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, May 29th. The computer maker reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. The firm had revenue of $14.00 million during the quarter, compared to the consensus estimate of $13.57 billion. HP had a net margin of 7.84% and a negative return on equity of 99.90%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. equities analysts anticipate that HP Inc. will post 2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 12th will be paid a dividend of $0.1393 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, September 11th. HP’s dividend payout ratio (DPR) is 33.94%.
Several analysts have weighed in on HPQ shares. Zacks Investment Research downgraded shares of HP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 25th. ValuEngine downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Maxim Group raised shares of HP from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $28.00 in a research note on Wednesday, May 30th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of HP from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 30th. Finally, BMO Capital Markets lowered their price target on shares of HP to $22.00 and set a “market perform” rating for the company in a research note on Wednesday, May 30th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $24.47.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
Further Reading: Average Daily Trade Volume – What You Need to Know
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