ClariVest Asset Management LLC reduced its stake in HP Inc. (NYSE:HPQ) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,540 shares of the computer maker’s stock after selling 341 shares during the period. ClariVest Asset Management LLC’s holdings in HP were worth $796,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Boston Partners increased its position in shares of HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HP during the first quarter worth approximately $79,108,000. Renaissance Technologies LLC purchased a new position in shares of HP during the first quarter worth approximately $62,824,000. Morgan Stanley increased its position in shares of HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock worth $131,121,000 after buying an additional 3,003,129 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of HP during the second quarter worth approximately $50,275,000. 79.90% of the stock is currently owned by hedge funds and other institutional investors.
HP Inc. (NYSE HPQ) opened at 18.51 on Friday. HP Inc. has a 12-month low of $13.55 and a 12-month high of $19.58. The firm’s 50-day moving average is $18.67 and its 200 day moving average is $17.95. The firm has a market cap of $31.16 billion, a PE ratio of 13.09 and a beta of 1.90.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts predict that HP Inc. will post $1.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio is presently 37.32%.
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A number of equities analysts have commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 target price on shares of HP in a research note on Wednesday. BidaskClub downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $21.00 to $22.00 in a research note on Thursday, July 20th. Jefferies Group LLC lifted their target price on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Finally, Susquehanna Bancshares Inc assumed coverage on shares of HP in a research note on Thursday, July 13th. They set a “neutral” rating and a $20.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. HP has an average rating of “Buy” and an average price target of $19.89.
In other HP news, insider Marie Myers sold 12,119 shares of HP stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total value of $218,990.33. Following the completion of the transaction, the insider now owns 5,621 shares of the company’s stock, valued at $101,571.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the transaction, the director now directly owns 692,849 shares of the company’s stock, valued at approximately $13,413,556.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,748,815 shares of company stock valued at $32,623,560. 0.62% of the stock is currently 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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