Mount Yale Investment Advisors LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 319,382 shares of the computer maker’s stock, valued at approximately $7,001,000. HP makes up about 1.5% of Mount Yale Investment Advisors LLC’s investment portfolio, making the stock its 7th biggest position.
A number of other institutional investors have also added to or reduced their stakes in HPQ. Bedel Financial Consulting Inc. purchased a new stake in shares of HP in the first quarter valued at $105,000. Rockefeller Capital Management L.P. purchased a new stake in shares of HP in the first quarter valued at $106,000. BB&T Investment Services Inc. raised its stake in shares of HP by 94.0% in the fourth quarter. BB&T Investment Services Inc. now owns 5,038 shares of the computer maker’s stock valued at $108,000 after acquiring an additional 2,441 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of HP in the fourth quarter valued at $111,000. Finally, Institutional & Family Asset Management LLC purchased a new stake in shares of HP in the first quarter valued at $118,000. 79.91% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on HPQ. ValuEngine downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, February 27th. Morgan Stanley upped their price target on shares of HP from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 30th. Susquehanna Bancshares set a $22.00 price target on shares of HP and gave the stock a “hold” rating in a report on Wednesday, May 30th. Finally, JPMorgan Chase & Co. set a $28.00 price target on shares of HP and gave the stock a “buy” rating in a report on Wednesday, May 30th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.47.
In other HP news, insider Tracy S. Keogh sold 117,275 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $24.00, for a total transaction of $2,814,600.00. Following the completion of the sale, the insider now directly owns 243,526 shares of the company’s stock, valued at $5,844,624. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tracy S. Keogh sold 117,276 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $23.00, for a total transaction of $2,697,348.00. Following the sale, the insider now directly owns 340,453 shares of the company’s stock, valued at $7,830,419. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
HP stock traded down $0.70 during midday trading on Monday, hitting $23.10. 590,546 shares of the company’s stock were exchanged, compared to its average volume of 9,363,562. The company has a debt-to-equity ratio of -2.41, a current ratio of 0.84 and a quick ratio of 0.60. HP Inc. has a 12 month low of $17.10 and a 12 month high of $24.75. The stock has a market cap of $38.33 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.83 and a beta of 1.62.
HP (NYSE:HPQ) last issued its earnings results on Tuesday, May 29th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. HP had a net margin of 7.84% and a negative return on equity of 99.90%. The company had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $13.57 billion. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. equities analysts expect that HP Inc. will post 2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 12th will be issued a dividend of $0.1393 per share. This represents a $0.56 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, September 11th. HP’s payout ratio is 33.94%.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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