People s United Financial Inc. Has $1.03 Million Holdings in HP Inc. (HPQ)
People s United Financial Inc. raised its position in shares of HP Inc. (NYSE:HPQ) by 251.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,706 shares of the computer maker’s stock after purchasing an additional 42,024 shares during the quarter. People s United Financial Inc.’s holdings in HP were worth $1,026,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Waldron LP purchased a new stake in shares of HP in the first quarter worth $288,000. LBA Wealth Management LLC lifted its stake in shares of HP by 15.2% during the 1st quarter. LBA Wealth Management LLC now owns 24,625 shares of the computer maker’s stock valued at $440,000 after buying an additional 3,250 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of HP by 7.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 390,371 shares of the computer maker’s stock valued at $6,976,000 after buying an additional 27,997 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of HP by 24.5% during the 1st quarter. Pacer Advisors Inc. now owns 87,442 shares of the computer maker’s stock valued at $1,563,000 after buying an additional 17,234 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of HP by 29.2% during the 1st quarter. Nordea Investment Management AB now owns 346,006 shares of the computer maker’s stock valued at $6,187,000 after buying an additional 78,166 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the company. Stifel Nicolaus restated a “hold” rating and issued a $14.00 price objective on shares of HP in a research report on Wednesday, August 16th. Jefferies Group LLC increased their target price on HP from $18.00 to $18.75 and gave the stock a “hold” rating in a research report on Tuesday, July 18th. BMO Capital Markets reiterated a “hold” rating and set a $20.00 target price on shares of HP in a research report on Thursday, August 24th. Guggenheim reissued a “neutral” rating on shares of HP in a research note on Monday. Finally, FBN Securities reissued an “outperform” rating and set a $25.00 target price (up previously from $23.00) on shares of HP in a research note on Thursday, August 24th. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $20.57.
In related news, insider Tracy S. Keogh sold 265,600 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.90, for a total value of $5,285,440.00. Following the completion of the transaction, the insider now directly owns 165,952 shares in the company, valued at $3,302,444.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dion J. Weisler sold 731,502 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total value of $14,608,094.94. Following the completion of the transaction, the insider now owns 435,018 shares of the company’s stock, valued at $8,687,309.46. The disclosure for this sale can be found here. Insiders have sold a total of 2,530,169 shares of company stock valued at $48,902,046 in the last 90 days. Insiders own 0.62% of the company’s stock.
Shares of HP Inc. (HPQ) opened at 20.09 on Wednesday. The stock has a market cap of $33.56 billion, a price-to-earnings ratio of 14.60 and a beta of 1.94. The firm has a 50-day moving average price of $19.39 and a 200-day moving average price of $18.62. HP Inc. has a 1-year low of $13.77 and a 1-year high of $20.23.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The company had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. During the same period in the previous year, the business posted $0.48 EPS. HP’s revenue was up 9.8% on a year-over-year basis. Equities analysts forecast that HP Inc. will post $1.65 EPS for the current 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 issued a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.64%. HP’s dividend payout ratio is currently 38.41%.
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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