ICM Asset Management Inc. WA raised its stake in shares of HP Inc. (NYSE:HPQ) by 18.6% during the first quarter, HoldingsChannel.com reports. The firm owned 193,053 shares of the computer maker’s stock after buying an additional 30,270 shares during the quarter. HP comprises 2.9% of ICM Asset Management Inc. WA’s holdings, making the stock its 9th largest position. ICM Asset Management Inc. WA’s holdings in HP were worth $3,751,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of HPQ. BlackRock Inc. grew its stake in shares of HP by 1.2% during the fourth quarter. BlackRock Inc. now owns 107,109,970 shares of the computer maker’s stock valued at $2,191,471,000 after buying an additional 1,310,551 shares during the last quarter. Boston Partners grew its stake in shares of HP by 5.4% during the fourth quarter. Boston Partners now owns 43,404,835 shares of the computer maker’s stock valued at $888,063,000 after buying an additional 2,215,865 shares during the last quarter. Deutsche Bank AG grew its stake in shares of HP by 8.9% during the fourth quarter. Deutsche Bank AG now owns 33,764,593 shares of the computer maker’s stock valued at $690,814,000 after buying an additional 2,745,820 shares during the last quarter. Northern Trust Corp grew its stake in shares of HP by 6.0% during the fourth quarter. Northern Trust Corp now owns 21,931,335 shares of the computer maker’s stock valued at $448,715,000 after buying an additional 1,238,071 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of HP by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 20,246,617 shares of the computer maker’s stock valued at $413,637,000 after buying an additional 385,515 shares during the last quarter. Institutional investors and hedge funds own 81.03% of the company’s stock.
NYSE:HPQ traded down $0.01 during midday trading on Monday, hitting $20.20. The stock had a trading volume of 8,823,702 shares, compared to its average volume of 11,881,647. HP Inc. has a one year low of $18.46 and a one year high of $27.08. The stock has a market cap of $30.99 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 3.30 and a beta of 1.39.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $14.71 billion for the quarter, compared to analysts’ expectations of $14.81 billion. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. As a group, sell-side analysts anticipate that HP Inc. will post 2.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a dividend of $0.1602 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.64 annualized dividend and a yield of 3.17%. HP’s dividend payout ratio (DPR) is presently 31.68%.
A number of research firms have recently commented on HPQ. Credit Suisse Group began coverage on HP in a research note on Thursday. They set a “neutral” rating and a $21.00 target price on the stock. Zacks Investment Research raised HP from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine cut HP from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. reissued a “hold” rating on shares of HP in a research note on Thursday, February 28th. Finally, BMO Capital Markets dropped their price objective on HP from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. HP currently has an average rating of “Hold” and an average target price of $26.03.
In other HP news, CEO Dion J. Weisler sold 36,799 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.
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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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