HP Inc. (HPQ) Shares Sold by Patton Albertson Miller Group LLC
Patton Albertson Miller Group LLC decreased its stake in shares of HP Inc. (NYSE:HPQ) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 71,301 shares of the computer maker’s stock after selling 1,552 shares during the period. Patton Albertson Miller Group LLC’s holdings in HP were worth $1,364,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new position in HP during the first quarter valued at approximately $833,000. ZWJ Investment Counsel Inc. acquired a new position in HP during the first quarter valued at 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 valued at $26,145,000 after buying an additional 754,019 shares during the period. 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 valued at $4,476,000 after buying an additional 6,074 shares during the period. Finally, American Beacon Advisors Inc. acquired a new position in HP during the first quarter valued at approximately $112,000. Institutional investors own 78.97% of the company’s stock.
HP Inc. (NYSE HPQ) opened at 18.90 on Friday. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58. The company has a market cap of $31.82 billion, a PE ratio of 13.37 and a beta of 1.90. The company’s 50-day moving average price is $18.50 and its 200 day moving average price is $17.79.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, analysts anticipate that HP Inc. will post $1.64 EPS for the current year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.81%. HP’s dividend payout ratio is presently 37.32%.
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Several equities analysts have recently commented on HPQ shares. FBN Securities reiterated an “outperform” rating and set a $23.00 target price (up from $19.00) on shares of HP in a research note on Sunday, May 28th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, July 12th. Mizuho raised HP from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $21.00 in a research report on Monday, July 10th. BidaskClub raised HP from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada upped their price target on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Thursday, May 25th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. HP presently has a consensus rating of “Buy” and an average target price of $19.89.
In related news, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total value of $4,297,145.60. Following the completion of the sale, the director now owns 692,849 shares in the company, valued at $13,413,556.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were 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 owns 692,849 shares of the company’s stock, valued at approximately $13,385,842.68. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock valued at $32,623,560 in the last quarter. 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.
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