SkyBridge Capital II LLC purchased a new position in HP Inc. (NYSE:HPQ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 755,210 shares of the computer maker’s stock, valued at approximately $13,201,000. HP makes up 3.2% of SkyBridge Capital II LLC’s investment portfolio, making the stock its 22nd largest holding.
Other institutional investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its stake in HP by 19.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after acquiring an additional 1,013 shares during the period. American Beacon Advisors Inc. bought a new position in HP during the 1st quarter valued at about $112,000. First Command Bank lifted its stake in HP by 80.0% during the 2nd quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after acquiring an additional 2,984 shares during the period. TrimTabs Asset Management LLC lifted its stake in HP by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after acquiring an additional 3,264 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in HP by 15.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock valued at $130,000 after acquiring an additional 996 shares during the period. Institutional investors own 79.18% of the company’s stock.
In related news, insider Marie Myers sold 12,119 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the sale, the insider now directly owns 5,621 shares in the company, valued at $101,571.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Margaret C. Whitman sold 147,968 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $18.00, for a total value of $2,663,424.00. Following the sale, the director now owns 618,857 shares of the company’s stock, valued at $11,139,426. The disclosure for this sale can be found here. Insiders have sold 1,587,608 shares of company stock valued at $29,785,377 over the last quarter. 0.62% of the stock is owned by company insiders.
HPQ has been the topic of several research analyst reports. Vetr cut shares of HP from a “buy” rating to a “hold” rating and set a $19.72 target price on the stock. in a research note on Monday, June 5th. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Susquehanna Bancshares Inc initiated 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. Royal Bank Of Canada upped their target price on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research note on Thursday, May 25th. Finally, Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, July 12th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. HP presently has an average rating of “Buy” and a consensus target price of $20.57.
HP Inc. (NYSE:HPQ) traded down 0.05% on Friday, hitting $19.76. The stock had a trading volume of 1,632,375 shares. The company has a 50-day moving average of $19.18 and a 200 day moving average of $18.44. The company has a market cap of $33.00 billion, a PE ratio of 14.36 and a beta of 1.93. HP Inc. has a 12 month low of $13.77 and a 12 month high of $19.80.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts predict that HP Inc. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is 38.41%.
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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