Visionary Asset Management Inc. Sells 24,662 Shares of HP Inc (HPQ)
Visionary Asset Management Inc. lessened its holdings in shares of HP Inc (NYSE:HPQ) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 169,198 shares of the computer maker’s stock after selling 24,662 shares during the quarter. HP makes up approximately 1.0% of Visionary Asset Management Inc.’s portfolio, making the stock its 17th largest holding. Visionary Asset Management Inc.’s holdings in HP were worth $3,377,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. CAPROCK Group Inc. raised its position in shares of HP by 104.5% in the third quarter. CAPROCK Group Inc. now owns 43,348 shares of the computer maker’s stock valued at $871,000 after purchasing an additional 22,150 shares during the period. Swiss National Bank raised its position in shares of HP by 0.6% during the third quarter. Swiss National Bank now owns 6,208,592 shares of the computer maker’s stock worth $123,923,000 after acquiring an additional 34,800 shares during the last quarter. Meyer Handelman Co. raised its position in shares of HP by 3.1% during the third quarter. Meyer Handelman Co. now owns 449,414 shares of the computer maker’s stock worth $8,971,000 after acquiring an additional 13,600 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of HP by 43.9% during the third quarter. State of Wisconsin Investment Board now owns 2,151,950 shares of the computer maker’s stock worth $42,953,000 after acquiring an additional 656,546 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of HP by 17.4% during the third quarter. Principal Financial Group Inc. now owns 4,829,133 shares of the computer maker’s stock worth $96,389,000 after acquiring an additional 716,899 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on HPQ. Susquehanna Bancshares reiterated a “hold” rating and issued a $20.00 target price on shares of HP in a report on Friday, August 25th. Jefferies Group restated a “hold” rating and issued a $20.00 target price (up from $19.00) on shares of HP in a research note on Tuesday, September 5th. Maxim Group restated a “hold” rating and issued a $25.00 target price on shares of HP in a research note on Wednesday, November 22nd. Wells Fargo & Company initiated coverage on HP in a research note on Tuesday, November 14th. They issued a “market perform” rating and a $21.00 target price on the stock. Finally, Bank of America boosted their target price on HP from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $21.31.
In related news, insider Enrique Lores sold 40,965 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $21.50, for a total transaction of $880,747.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marie Myers sold 10,025 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $19.75, for a total value of $197,993.75. Following the sale, the insider now owns 10,025 shares of the company’s stock, valued at $197,993.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,143,763 shares of company stock valued at $44,133,137. 0.62% of the stock is owned by company insiders.
HP Inc (NYSE:HPQ) traded down $0.11 during trading hours on Friday, hitting $20.74. The company had a trading volume of 8,160,900 shares, compared to its average volume of 10,935,732. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00. HP Inc has a 12 month low of $14.40 and a 12 month high of $22.68. The company has a market cap of $34,824.79, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.21 and a beta of 1.81.
HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. HP had a negative return on equity of 70.25% and a net margin of 4.85%. The company had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. sell-side analysts predict that HP Inc will post 1.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be given a dividend of $0.1393 per share. This represents a $0.56 annualized dividend and a yield of 2.69%. This is a boost from HP’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, December 12th. HP’s payout ratio is presently 37.58%.
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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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