Stifel Financial Corp raised its holdings in HP Inc. (NYSE:HPQ) by 15.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 175,308 shares of the computer maker’s stock after acquiring an additional 23,110 shares during the quarter. Stifel Financial Corp’s holdings in HP were worth $3,053,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in HPQ. Boston Partners boosted its stake in HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after acquiring an additional 19,667,780 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of HP during the first quarter worth $79,108,000. Renaissance Technologies LLC bought a new position in shares of HP during the first quarter worth $62,824,000. Parametric Portfolio Associates LLC boosted its position in shares of HP by 87.1% during the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after purchasing an additional 3,358,299 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of HP by 26.3% during the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after purchasing an additional 3,017,182 shares in the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
In other HP news, insider Enrique Lores sold 40,965 shares of the company’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $20.50, for a total transaction of $839,782.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Margaret C. Whitman sold 295,936 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $19.00, for a total transaction of $5,622,784.00. Following the transaction, the director now owns 766,825 shares in the company, valued at approximately $14,569,675. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,127,206 shares of company stock worth $41,757,043. 0.62% of the stock is currently owned by company insiders.
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HP Inc. (HPQ) opened at 20.41 on Thursday. The company’s 50 day moving average is $19.67 and its 200-day moving average is $18.75. HP Inc. has a 52-week low of $13.77 and a 52-week high of $20.73. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 14.83 and a beta of 1.94.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. HP’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. Equities analysts anticipate that HP Inc. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were paid a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Tuesday, September 12th. HP’s payout ratio is 38.41%.
A number of equities analysts have recently weighed in on HPQ shares. ValuEngine raised shares of HP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Guggenheim reaffirmed a “neutral” rating on shares of HP in a research report on Monday, October 2nd. Susquehanna Bancshares Inc started coverage on shares of HP in a research report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 price objective on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price objective on shares of HP in a research report on Sunday. Finally, Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, July 12th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $20.92.
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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