HP Inc. (NYSE:HPQ) Stake Boosted by NGAM Advisors L.P.
NGAM Advisors L.P. increased its stake in HP Inc. (NYSE:HPQ) by 24.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,653 shares of the computer maker’s stock after buying an additional 24,364 shares during the period. NGAM Advisors L.P.’s holdings in HP were worth $2,179,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Investments LLC raised its position in HP by 23.8% in the first quarter. Atria Investments LLC now owns 142,305 shares of the computer maker’s stock valued at $2,544,000 after buying an additional 27,355 shares during the period. Integrated Wealth Management bought a new position in HP during the first quarter valued at $190,000. BLB&B Advisors LLC raised its position in HP by 0.6% in the first quarter. BLB&B Advisors LLC now owns 35,847 shares of the computer maker’s stock valued at $641,000 after buying an additional 226 shares during the period. Fox Run Management L.L.C. bought a new position in HP during the first quarter valued at $974,000. Finally, CWM LLC raised its position in HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the period. 78.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HP Inc. (NYSE:HPQ) opened at 18.90 on Friday. The company has a market capitalization of $31.82 billion, a P/E ratio of 13.37 and a beta of 1.90. HP Inc. has a 12 month low of $13.55 and a 12 month high of $19.58. The company’s 50 day moving average price is $18.53 and its 200 day moving average price is $17.82.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. Analysts expect that HP Inc. will post $1.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a yield of 2.81%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio is 37.32%.
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Several research analysts have weighed in on HPQ shares. Citigroup Inc. raised HP from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 18th. Morgan Stanley boosted their price target on HP from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 18th. Barclays PLC raised HP from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $17.00 to $22.00 in a research report on Wednesday, April 19th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $20.00 target price (up from $18.00) on shares of HP in a report on Friday, May 19th. Nine investment 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. HP presently has a consensus rating of “Buy” and an average target price of $19.89.
In related news, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total transaction 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 $13,385,842.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jon E. Flaxman sold 35,000 shares of HP stock in a transaction on Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the sale, the chief operating officer now directly 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 three months. 0.62% of the stock is owned by corporate insiders.
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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