Guggenheim Capital LLC reduced its position in HP Inc (NYSE:HPQ) by 8.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,452,986 shares of the computer maker’s stock after selling 323,536 shares during the quarter. Guggenheim Capital LLC’s holdings in HP were worth $72,547,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ark Investment Management LLC grew its stake in shares of HP by 37.4% during the 2nd quarter. Ark Investment Management LLC now owns 78,615 shares of the computer maker’s stock worth $1,374,000 after purchasing an additional 21,399 shares during the period. Victory Capital Management Inc. grew its stake in shares of HP by 14.9% during the 3rd quarter. Victory Capital Management Inc. now owns 549,912 shares of the computer maker’s stock worth $10,976,000 after purchasing an additional 71,137 shares during the period. Principal Financial Group Inc. grew its stake in shares of HP by 17.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,829,133 shares of the computer maker’s stock worth $96,389,000 after purchasing an additional 716,899 shares during the period. Intrust Bank NA grew its stake in shares of HP by 11.6% during the 3rd quarter. Intrust Bank NA now owns 29,464 shares of the computer maker’s stock worth $588,000 after purchasing an additional 3,060 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of HP by 11.2% during the 3rd quarter. Toronto Dominion Bank now owns 634,859 shares of the computer maker’s stock worth $12,671,000 after purchasing an additional 63,780 shares during the period. 80.59% of the stock is currently owned by institutional investors.
HPQ has been the topic of a number of recent analyst reports. Maxim Group upped their price target on shares of HP from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $28.00 price target on shares of HP in a research note on Friday, February 23rd. Barclays cut shares of HP from an “overweight” rating to an “equal weight” rating and set a $23.00 price target on the stock. in a research note on Wednesday, January 17th. Zacks Investment Research cut shares of HP from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Finally, Guggenheim reaffirmed a “hold” rating on shares of HP in a research note on Tuesday, February 20th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. HP presently has a consensus rating of “Buy” and an average price target of $23.94.
HP (NYSE:HPQ) last released its earnings results on Thursday, February 22nd. The computer maker reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.06. The company had revenue of $14.52 billion for the quarter, compared to analyst estimates of $13.47 billion. HP had a net margin of 7.15% and a negative return on equity of 82.30%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. equities research analysts predict that HP Inc will post 1.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be issued a $0.1393 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.26%. HP’s dividend payout ratio (DPR) is 24.45%.
In other HP news, insider Ron Coughlin sold 15,000 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $22.50, for a total value of $337,500.00. Following the transaction, the insider now directly owns 130,766 shares in the company, valued at approximately $2,942,235. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Enrique Lores sold 302,893 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.31, for a total transaction of $7,060,435.83. Following the completion of the transaction, the insider now owns 88,901 shares in the company, valued at $2,072,282.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 606,020 shares of company stock worth $13,597,644. 0.25% of the stock is owned by insiders.
ILLEGAL ACTIVITY WARNING: “Guggenheim Capital LLC Sells 323,536 Shares of HP Inc (HPQ)” was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://sportsperspectives.com/2018/03/12/guggenheim-capital-llc-sells-323536-shares-of-hp-inc-hpq.html.
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.
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc (NYSE:HPQ).
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.