BP PLC maintained its stake in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,000 shares of the computer maker’s stock at the end of the first quarter. BP PLC’s holdings in HP were worth $3,793,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of HPQ. Dodge & Cox bought a new position in HP during the fourth quarter worth approximately $2,073,164,000. Norges Bank bought a new position in HP during the fourth quarter worth approximately $225,623,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in HP during the fourth quarter worth approximately $145,193,000. Arrowstreet Capital Limited Partnership bought 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. 80.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HP Inc. (HPQ) traded up 0.400% during midday trading on Friday, hitting $17.339. 7,809,551 shares of the stock were exchanged. HP Inc. has a one year low of $11.48 and a one year high of $19.58. The stock has a market cap of $29.19 billion, a P/E ratio of 12.262 and a beta of 1.76. The stock’s 50-day moving average price is $18.72 and its 200 day moving average price is $16.91.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, analysts anticipate that HP Inc. will post $1.63 earnings per share for the current 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 $0.1327 dividend. The ex-dividend date of this dividend is Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.07%. HP’s dividend payout ratio is 37.32%.
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A number of analysts recently weighed in on HPQ shares. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $22.00 in a research note on Wednesday, April 19th. Citigroup Inc. upgraded shares of HP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.54 to $20.00 in a research note on Wednesday, April 12th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $16.00 price target (up previously from $15.50) on shares of HP in a research note on Thursday, February 23rd. Stifel Nicolaus reiterated a “hold” rating and set a $14.00 price target on shares of HP in a research note on Friday, May 26th. Finally, Wells Fargo & Company upgraded shares of HP from a “market perform” rating to an “outperform” rating in a research note on Monday, March 6th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. HP currently has an average rating of “Hold” and a consensus price target of $19.08.
In other news, CFO Catherine A. Lesjak sold 120,000 shares of the company’s stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total value of $2,176,800.00. Following the transaction, the chief financial officer now owns 120,000 shares in the company, valued at approximately $2,176,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Catherine A. Lesjak sold 719,775 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $17.60, for a total value of $12,668,040.00. Following the completion of 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 sold a total of 1,015,159 shares of company stock worth $18,142,136 in the last quarter. 0.62% of the stock is owned by corporate insiders.
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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