Axa increased its stake in HP Inc (NYSE:HPQ) by 101.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 348,404 shares of the computer maker’s stock after buying an additional 175,600 shares during the quarter. Axa’s holdings in HP were worth $7,320,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of HPQ. Ark Investment Management LLC lifted its position in HP by 37.4% in the second quarter. Ark Investment Management LLC now owns 78,615 shares of the computer maker’s stock worth $1,374,000 after buying an additional 21,399 shares during the last quarter. Victory Capital Management Inc. increased its stake in HP by 14.9% in the third 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. Toronto Dominion Bank increased its stake in HP by 11.2% in the third 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. Los Angeles Capital Management & Equity Research Inc. increased its stake in HP by 16.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,979,246 shares of the computer maker’s stock worth $39,506,000 after purchasing an additional 278,510 shares during the period. Finally, First National Trust Co. increased its stake in HP by 18.7% in the third quarter. First National Trust Co. now owns 82,196 shares of the computer maker’s stock worth $1,640,000 after purchasing an additional 12,966 shares during the period. Institutional investors own 80.59% of the company’s stock.
In other HP news, Director Shumeet Banerji sold 35,686 shares of HP stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $21.50, for a total value of $767,249.00. Following the transaction, the director now owns 28,000 shares in the company, valued at $602,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Enrique Lores sold 302,893 shares of HP stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.31, for a total value of $7,060,435.83. Following the completion of the transaction, the insider now owns 88,901 shares in the company, valued at approximately $2,072,282.31. The disclosure for this sale can be found here. Insiders sold 591,385 shares of company stock worth $13,289,138 in the last quarter. 0.25% of the stock is owned by insiders.
HP (NYSE:HPQ) last posted its earnings results on Thursday, February 22nd. The computer maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. HP had a negative return on equity of 82.30% and a net margin of 7.15%. The company had revenue of $14.52 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. equities research analysts expect that HP Inc will post 1.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be paid a $0.1393 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 annualized dividend and a yield of 2.36%. HP’s dividend payout ratio (DPR) is presently 34.36%.
A number of research firms have weighed in on HPQ. Maxim Group reiterated a “hold” rating and issued a $25.00 target price on shares of HP in a research note on Wednesday, November 22nd. Loop Capital reiterated a “buy” rating and issued a $25.00 target price on shares of HP in a research note on Wednesday, November 22nd. Deutsche Bank increased their target price on HP from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. UBS Group reiterated a “buy” rating and issued a $28.00 target price (up previously from $26.00) on shares of HP in a research note on Friday, February 23rd. Finally, Susquehanna Bancshares set a $22.00 target price on HP and gave the stock a “hold” rating in a research note on Friday, February 23rd. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. HP presently has an average rating of “Buy” and a consensus target price of $23.94.
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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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