Letko Brosseau & Associates Inc. Has $31.35 Million Holdings in HP Inc (HPQ)
Letko Brosseau & Associates Inc. cut its position in shares of HP Inc (NYSE:HPQ) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,491,924 shares of the computer maker’s stock after selling 351,450 shares during the quarter. Letko Brosseau & Associates Inc. owned 0.09% of HP worth $31,345,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of HPQ. Bessemer Group Inc. lifted its stake in HP by 18,197.4% during the fourth quarter. Bessemer Group Inc. now owns 4,054,893 shares of the computer maker’s stock valued at $85,194,000 after buying an additional 4,032,732 shares in the last quarter. Millennium Management LLC lifted its position in shares of HP by 84.5% in the fourth quarter. Millennium Management LLC now owns 6,241,058 shares of the computer maker’s stock worth $131,125,000 after purchasing an additional 2,857,797 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of HP by 19.8% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 12,557,886 shares of the computer maker’s stock worth $212,366,000 after purchasing an additional 2,074,500 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of HP by 9.8% in the third quarter. Wells Fargo & Company MN now owns 15,902,375 shares of the computer maker’s stock worth $317,411,000 after purchasing an additional 1,415,318 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of HP in the fourth quarter worth approximately $27,335,000. 80.33% of the stock is owned by institutional investors.
In other HP news, COO Jon E. Flaxman sold 207,806 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $21.58, for a total transaction of $4,484,453.48. Following the transaction, the chief operating officer now owns 298,538 shares in the company, valued at $6,442,450.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marie Myers sold 10,000 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $21.20, for a total value of $212,000.00. Following the transaction, the insider now owns 11,966 shares in the company, valued at approximately $253,679.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 545,699 shares of company stock worth $12,306,389. Corporate insiders own 0.25% of the company’s stock.
HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 22nd. The computer maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. HP had a net margin of 7.15% and a negative return on equity of 82.30%. The firm had revenue of $14.52 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. equities analysts expect that HP Inc will post 1.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be issued a dividend of $0.1393 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 annualized dividend and a yield of 2.41%. HP’s dividend payout ratio (DPR) is presently 24.45%.
HPQ has been the subject of a number of research analyst reports. Maxim Group increased their price target on shares of HP from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada reissued a “buy” rating and issued a $28.00 price target on shares of HP in a research report on Friday, February 23rd. Zacks Investment Research lowered shares of HP from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Barclays lowered shares of HP from an “overweight” rating to an “equal weight” rating and set a $23.00 price target for the company. in a research report on Wednesday, January 17th. Finally, Guggenheim reissued a “hold” rating on shares of HP in a research report on Tuesday, February 20th. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.94.
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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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