Cpwm LLC bought a new stake in HP Inc. (NYSE:HPQ) during the third quarter, HoldingsChannel reports. The fund bought 12,313 shares of the computer maker’s stock, valued at approximately $317,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kepos Capital LP increased its stake in HP by 17.5% in the third quarter. Kepos Capital LP now owns 269,145 shares of the computer maker’s stock valued at $6,936,000 after acquiring an additional 40,119 shares during the last quarter. GAM Holding AG increased its stake in HP by 22.9% in the third quarter. GAM Holding AG now owns 101,276 shares of the computer maker’s stock valued at $2,610,000 after acquiring an additional 18,889 shares during the last quarter. Sowell Financial Services LLC bought a new position in HP in the third quarter valued at $682,000. Mirae Asset Global Investments Co. Ltd. increased its stake in HP by 3.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,230 shares of the computer maker’s stock valued at $5,727,000 after acquiring an additional 7,591 shares during the last quarter. Finally, Investec Asset Management PTY Ltd increased its stake in HP by 5,586.1% in the third quarter. Investec Asset Management PTY Ltd now owns 129,756 shares of the computer maker’s stock valued at $3,339,000 after acquiring an additional 127,474 shares during the last quarter. 78.94% of the stock is currently owned by institutional investors and hedge funds.
NYSE HPQ opened at $24.02 on Friday. The stock has a market capitalization of $36.78 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 2.25 and a beta of 1.45. HP Inc. has a 1 year low of $19.31 and a 1 year high of $27.08.
HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, November 29th. The computer maker reported $0.54 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. HP had a net margin of 9.11% and a negative return on equity of 188.62%. The business had revenue of $15.37 billion during the quarter, compared to analyst estimates of $15.13 billion. During the same period last year, the business posted $0.44 earnings per share. HP’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts predict that HP Inc. will post 2.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Thursday, December 13th will be issued a $0.1602 dividend. The ex-dividend date is Wednesday, December 12th. This is a positive change from HP’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.67%. HP’s dividend payout ratio (DPR) is 27.72%.
In other HP news, insider Alex Cho sold 3,879 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $23.68, for a total value of $91,854.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kim M. Rivera sold 46,072 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $24.14, for a total transaction of $1,112,178.08. Following the completion of the sale, the insider now owns 15,241 shares of the company’s stock, valued at $367,917.74. The disclosure for this sale can be found here. Insiders sold 829,934 shares of company stock valued at $21,227,333 over the last 90 days. 0.25% of the stock is currently owned by company insiders.
HPQ has been the topic of a number of recent research reports. Deutsche Bank raised their price objective on HP from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 24th. ValuEngine raised HP from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Argus reaffirmed a “buy” rating on shares of HP in a research note on Monday, October 8th. Wells Fargo & Co raised their price objective on HP from $21.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, August 24th. Finally, Morgan Stanley raised their target price on HP from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, August 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.25.
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HP Company Profile
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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