HP Inc. (HPQ) Stake Held by American Assets Investment Management LLC
American Assets Investment Management LLC held its position in HP Inc. (NYSE:HPQ) during the second quarter, Holdings Channel reports. The institutional investor owned 127,000 shares of the computer maker’s stock at the end of the second quarter. American Assets Investment Management LLC’s holdings in HP were worth $2,220,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of HPQ. Comerica Bank raised its position in HP by 6.6% in the second quarter. Comerica Bank now owns 472,200 shares of the computer maker’s stock valued at $9,085,000 after buying an additional 29,154 shares during the last quarter. Legal & General Group Plc raised its position in shares of HP by 3.3% in the second quarter. Legal & General Group Plc now owns 9,911,880 shares of the computer maker’s stock valued at $173,268,000 after buying an additional 317,007 shares in the last quarter. Dowling & Yahnke LLC raised its position in shares of HP by 2.2% in the second quarter. Dowling & Yahnke LLC now owns 53,342 shares of the computer maker’s stock valued at $932,000 after buying an additional 1,150 shares in the last quarter. LMR Partners LLP raised its position in shares of 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 buying an additional 48,130 shares in the last quarter. Finally, Dupont Capital Management Corp raised its position in shares of 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 buying an additional 111,429 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.
Shares of HP Inc. (NYSE HPQ) opened at 18.96 on Wednesday. The stock has a 50 day moving average of $18.60 and a 200 day moving average of $17.92. HP Inc. has a 1-year low of $13.55 and a 1-year high of $19.58. The firm has a market cap of $31.92 billion, a PE ratio of 13.41 and a beta of 1.90.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.79%. HP’s dividend payout ratio is currently 37.32%.
Several equities analysts have recently commented on HPQ shares. Vetr lowered shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price objective on the stock. in a report on Monday, June 5th. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Susquehanna Bancshares Inc started coverage on shares of HP in a report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 price objective on the stock. Royal Bank Of Canada upped their price objective on shares of HP from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Thursday, May 25th. Finally, Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, July 12th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $19.89.
In other news, 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 transaction of $8,576,534.40. Following the completion of the transaction, the director now owns 692,849 shares in the company, valued at $13,385,842.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jon E. Flaxman sold 35,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $18.26, for a total transaction of $639,100.00. Following the transaction, the chief operating officer now owns 62,203 shares of the company’s stock, valued at approximately $1,135,826.78. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock valued at $32,623,560 in the last 90 days. Insiders own 0.62% of the company’s stock.
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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