Meiji Yasuda Life Insurance Co increased its stake in shares of HP Inc. (NYSE:HPQ) by 28.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,720 shares of the computer maker’s stock after buying an additional 3,910 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in HP were worth $317,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Dodge & Cox acquired a new position in HP during the fourth quarter valued at $2,073,164,000. Norges Bank purchased a new position in HP during the fourth quarter worth approximately $225,623,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in HP during the fourth quarter worth approximately $145,193,000. Arrowstreet Capital Limited Partnership purchased a new position in HP during the fourth quarter worth approximately $143,429,000. Finally, DnB Asset Management AS increased its position in HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock worth $70,430,000 after buying an additional 3,443,455 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.
Shares of HP Inc. (NYSE HPQ) traded down 0.92% during mid-day trading on Thursday, hitting $17.24. The company’s stock had a trading volume of 3,544,475 shares. The stock has a market cap of $29.02 billion, a PE ratio of 12.19 and a beta of 1.76. HP Inc. has a 1-year low of $11.48 and a 1-year high of $19.58. The company has a 50-day moving average price of $18.76 and a 200-day moving average price of $16.90.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts predict that HP Inc. will post $1.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be issued a dividend of $0.1327 per share. The ex-dividend date of this dividend is Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 3.05%. HP’s dividend payout ratio is presently 37.32%.
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A number of research firms have recently issued reports on HPQ. Credit Suisse Group reiterated a “buy” rating and issued a $19.00 target price on shares of HP in a research note on Tuesday, May 23rd. Citigroup Inc. set a $20.00 target price on HP and gave the company a “buy” rating in a research note on Thursday, May 25th. BMO Capital Markets raised their price objective on HP from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 25th. Vetr lowered HP from a “buy” rating to a “hold” rating and set a $19.72 price objective for the company. in a research note on Monday, June 5th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.00 target price (up previously from $18.00) on shares of HP in a report on Friday, May 19th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.08.
In other HP news, insider Ron Coughlin sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total transaction of $181,400.00. Following the sale, the insider now owns 61,745 shares of the company’s stock, valued at $1,120,054.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Catherine A. Lesjak sold 719,775 shares of HP stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $17.60, for a total transaction of $12,668,040.00. Following the transaction, the chief financial officer now owns 599,775 shares in the company, valued at approximately $10,556,040. The disclosure for this sale can be found here. Insiders have sold 1,015,159 shares of company stock worth $18,142,136 over the last ninety days. Insiders own 0.62% of the company’s stock.
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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