Utah Retirement Systems boosted its stake in shares of HP Inc. (NYSE:HPQ) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,835 shares of the computer maker’s stock after buying an additional 200 shares during the period. Utah Retirement Systems’ holdings in HP were worth $5,665,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in HPQ. Dodge & Cox purchased a new stake in HP during the fourth quarter valued at about $2,073,164,000. American International Group Inc. increased its stake in HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock valued at $519,522,000 after buying an additional 457,514 shares during the period. Norges Bank purchased a new stake in HP during the fourth quarter valued at about $225,623,000. LSV Asset Management increased its stake in HP by 4.8% in the first quarter. LSV Asset Management now owns 13,611,654 shares of the computer maker’s stock valued at $243,376,000 after buying an additional 621,847 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in HP during the fourth quarter valued at about $145,193,000. Institutional investors and hedge funds own 80.37% of the company’s stock.
Shares of HP Inc. (NYSE HPQ) traded down 0.085% during trading on Friday, reaching $17.695. The company’s stock had a trading volume of 950,517 shares. The stock has a market cap of $29.79 billion, a P/E ratio of 12.514 and a beta of 1.76. The stock’s 50-day moving average is $18.61 and its 200-day moving average is $16.99. HP Inc. has a 12-month low of $11.48 and a 12-month high of $19.58.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the Zacks’ 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 the consensus estimate of $11.93 billion. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that HP Inc. will post $1.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a dividend of $0.1327 per share. The ex-dividend date of this dividend is Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a yield of 3.00%. HP’s payout ratio is 37.32%.
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HPQ has been the subject of several recent research reports. Barclays PLC upgraded HP from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Citigroup Inc. upgraded HP from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.54 to $20.00 in a research note on Wednesday, April 12th. J P Morgan Chase & Co restated a “neutral” rating and issued a $16.00 price target (up from $15.50) on shares of HP in a research note on Thursday, February 23rd. Stifel Nicolaus restated a “hold” rating and issued a $14.00 price target on shares of HP in a research note on Friday, May 26th. Finally, Wells Fargo & Company upgraded HP from a “market perform” rating to an “outperform” rating in a research note on Monday, March 6th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.08.
In other news, insider Ron Coughlin sold 10,000 shares of HP stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total value of $181,400.00. Following the transaction, the insider now owns 61,745 shares in the company, valued at $1,120,054.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $17.72, for a total value of $1,311,138.24. Following the completion of the transaction, the director now owns 544,881 shares in the company, valued at approximately $9,655,291.32. The disclosure for this sale can be found here. Insiders have sold 1,089,151 shares of company stock worth $19,453,274 in the last 90 days. Company 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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