HP Inc. (HPQ) Shares Bought by Legal & General Group Plc

Legal & General Group Plc boosted its stake in shares of HP Inc. (NYSE:HPQ) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,911,880 shares of the computer maker’s stock after buying an additional 317,007 shares during the period. Legal & General Group Plc owned approximately 0.59% of HP worth $173,268,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in HP by 0.4% in the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock valued at $218,000 after buying an additional 41 shares in the last quarter. Montecito Bank & Trust increased its position in HP by 0.3% in the second quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock valued at $303,000 after buying an additional 60 shares in the last quarter. Savant Capital LLC increased its position in HP by 0.3% in the first quarter. Savant Capital LLC now owns 24,276 shares of the computer maker’s stock valued at $434,000 after buying an additional 80 shares in the last quarter. Destination Wealth Management increased its position in HP by 0.5% in the first quarter. Destination Wealth Management now owns 15,603 shares of the computer maker’s stock valued at $279,000 after buying an additional 83 shares in the last quarter. Finally, Intrust Bank NA increased its position in HP by 0.5% in the first quarter. Intrust Bank NA now owns 25,997 shares of the computer maker’s stock valued at $464,000 after buying an additional 120 shares in the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

HP Inc. (NYSE HPQ) opened at 18.51 on Monday. The company’s 50-day moving average price is $18.67 and its 200-day moving average price is $17.95. The stock has a market capitalization of $31.16 billion, a PE ratio of 13.09 and a beta of 1.90. HP Inc. has a one year low of $13.55 and a one year high of $19.58.

HP (NYSE:HPQ) last issued its earnings results 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 company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that HP Inc. will post $1.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is 37.32%.

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Several research analysts recently commented on the company. Bank of America Corporation increased their price objective on HP from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. UBS AG reissued a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of HP in a research note on Thursday, May 25th. Royal Bank Of Canada raised HP from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $21.00 to $22.00 in a research note on Thursday, July 20th. Jefferies Group LLC increased their price objective on HP from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. set a $20.00 price objective on HP and gave the company a “buy” rating in a research note on Thursday, May 25th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.89.

In other news, insider Marie Myers sold 12,119 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total value of $218,990.33. Following the completion of the sale, the insider now owns 5,621 shares of the company’s stock, valued at $101,571.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jon E. Flaxman sold 35,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the sale, the chief operating officer now directly owns 62,203 shares of the company’s stock, valued at approximately $1,135,826.78. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock valued at $32,623,560 in the last ninety days. Company 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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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