Quantitative Investment Management LLC Has $262,000 Position in HP Inc. (HPQ)
Quantitative Investment Management LLC trimmed its stake in shares of HP Inc. (NYSE:HPQ) by 97.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,000 shares of the computer maker’s stock after selling 600,100 shares during the period. Quantitative Investment Management LLC’s holdings in HP were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Boston Partners raised its position in HP by 304.9% during the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after acquiring an additional 19,667,780 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in HP in the first quarter valued at approximately $79,108,000. Renaissance Technologies LLC purchased a new stake in HP in the 1st quarter worth approximately $62,824,000. Wells Fargo & Company MN boosted its position in HP by 26.3% in the 2nd quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after purchasing an additional 3,017,182 shares in the last quarter. Finally, Morgan Stanley boosted its position in HP by 69.4% in the 1st quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock worth $131,121,000 after purchasing an additional 3,003,129 shares in the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HP Inc. (HPQ) opened at 20.12 on Tuesday. HP Inc. has a 1-year low of $13.77 and a 1-year high of $20.23. The stock has a market cap of $33.61 billion, a PE ratio of 14.62 and a beta of 1.94. The stock has a 50 day moving average of $19.36 and a 200 day moving average of $18.60.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business had revenue of $13.06 billion for the quarter, compared to the consensus estimate of $12.31 billion. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 earnings per share. Equities research analysts forecast that HP Inc. will post $1.65 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 given a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio is presently 38.41%.
In other HP news, insider Dion J. Weisler sold 731,502 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $19.97, for a total value of $14,608,094.94. Following the transaction, the insider now directly owns 435,018 shares in the company, valued at approximately $8,687,309.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dion J. Weisler sold 95,521 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $19.97, for a total transaction of $1,907,554.37. Following the sale, the chief executive officer now directly owns 435,018 shares in the company, valued at $8,687,309.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,530,169 shares of company stock valued at $48,902,046. 0.62% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on the stock. Vetr cut shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price objective on the stock. in a research note on Monday, June 5th. BidaskClub lowered shares of HP from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Morgan Stanley reiterated an “overweight” rating and issued a $23.00 target price on shares of HP in a research note on Monday, June 26th. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Finally, Mizuho raised shares of HP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $21.00 in a report on Monday, July 10th. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $20.57.
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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