Baird Financial Group Inc. reduced its position in shares of HP Inc. (NYSE:HPQ) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,748 shares of the computer maker’s stock after selling 1,215 shares during the period. Baird Financial Group Inc.’s holdings in HP were worth $514,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in HPQ. Trexquant Investment LP bought a new stake in shares of HP during the first quarter worth approximately $833,000. Dodge & Cox bought a new stake in shares of HP during the fourth quarter worth approximately $2,073,164,000. Cantab Capital Partners LLP boosted its stake in shares of HP by 24.1% in the fourth quarter. Cantab Capital Partners LLP now owns 124,681 shares of the computer maker’s stock worth $1,850,000 after buying an additional 24,218 shares during the period. First Manhattan Co. boosted its stake in shares of HP by 119.5% in the first quarter. First Manhattan Co. now owns 18,371 shares of the computer maker’s stock worth $285,000 after buying an additional 10,000 shares during the period. Finally, Chicago Equity Partners LLC boosted its stake in shares of HP by 260.3% in the first quarter. Chicago Equity Partners LLC now owns 1,040,335 shares of the computer maker’s stock worth $18,601,000 after buying an additional 751,615 shares during the period. 80.37% of the stock is owned by institutional investors.
Shares of HP Inc. (NYSE HPQ) traded up 0.51% during midday trading on Friday, reaching $17.80. The company’s stock had a trading volume of 14,051,542 shares. The stock has a market cap of $29.96 billion, a PE ratio of 12.59 and a beta of 1.76. HP Inc. has a one year low of $11.48 and a one year high of $19.58. The firm has a 50-day moving average of $18.61 and a 200-day moving average of $16.99.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that HP Inc. will post $1.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be given a dividend of $0.1327 per share. The ex-dividend date is Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.98%. HP’s dividend payout ratio is presently 37.32%.
A number of research firms recently issued reports on HPQ. Credit Suisse Group reissued a “buy” rating and set a $19.00 target price on shares of HP in a research note on Tuesday, May 23rd. BMO Capital Markets increased their target price on HP from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, May 25th. Citigroup Inc. set a $20.00 target price on HP and gave the stock a “buy” rating in a research note on Thursday, May 25th. Vetr cut HP from a “buy” rating to a “hold” rating and set a $19.72 target price for the company. in a research note on Monday, June 5th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $20.00 target price (up from $18.00) on shares of HP in a research note on Friday, May 19th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. HP has a consensus rating of “Hold” and a consensus price target of $19.08.
In other news, CFO Catherine A. Lesjak sold 719,775 shares of the company’s 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 of the company’s stock, valued at approximately $10,556,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the transaction, the director now directly owns 544,881 shares in the company, valued at approximately $9,644,393.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,163,143 shares of company stock worth $20,762,933 in the last ninety days. Insiders own 0.62% of the company’s stock.
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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