Marshall Wace LLP Buys New Holdings in HP Inc. (NYSE:HPQ)

Marshall Wace LLP bought a new stake in shares of HP Inc. (NYSE:HPQ) during the first quarter, Holdings Channel reports. The fund bought 1,079,973 shares of the computer maker’s stock, valued at approximately $20,983,000.

A number of other hedge funds have also modified their holdings of HPQ. Claybrook Capital LLC raised its holdings in HP by 367.8% during the 4th quarter. Claybrook Capital LLC now owns 1,235 shares of the computer maker’s stock valued at $25,000 after acquiring an additional 971 shares during the period. Dubuque Bank & Trust Co. increased its holdings in shares of HP by 1,760.0% in the first quarter. Dubuque Bank & Trust Co. now owns 1,302 shares of the computer maker’s stock worth $25,000 after purchasing an additional 1,232 shares during the period. Sontag Advisory LLC bought a new position in shares of HP in the fourth quarter worth $26,000. Gradient Investments LLC increased its holdings in shares of HP by 331.6% in the first quarter. Gradient Investments LLC now owns 1,394 shares of the computer maker’s stock worth $27,000 after purchasing an additional 1,071 shares during the period. Finally, Icon Wealth Partners LLC bought a new position in shares of HP in the first quarter worth $27,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Claire Bramley sold 15,819 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.00, for a total value of $316,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shumeet Banerji sold 28,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now owns 31,311 shares of the company’s stock, valued at $626,220. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Several research firms have recently weighed in on HPQ. Evercore ISI began coverage on shares of HP in a report on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 price target on the stock. ValuEngine cut shares of HP from a “hold” rating to a “sell” rating in a report on Saturday, June 1st. Morgan Stanley upped their price target on shares of HP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, May 24th. Wolfe Research cut shares of HP from an “outperform” rating to a “peer perform” rating and decreased their price target for the stock from $25.00 to $21.00 in a report on Tuesday, May 14th. Finally, Zacks Investment Research raised shares of HP from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Two 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. HP currently has a consensus rating of “Hold” and an average price target of $25.26.

Shares of NYSE:HPQ opened at $19.91 on Monday. HP Inc. has a 52-week low of $18.06 and a 52-week high of $27.08. The firm has a market capitalization of $29.99 billion, a P/E ratio of 9.44, a P/E/G ratio of 3.00 and a beta of 1.34.

HP (NYSE:HPQ) last announced its earnings results on Thursday, May 23rd. The computer maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. HP had a net margin of 6.67% and a negative return on equity of 232.81%. The company had revenue of $14.04 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts predict that HP Inc. will post 2.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 12th will be given a $0.1602 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.64 annualized dividend and a yield of 3.22%. HP’s dividend payout ratio (DPR) is presently 31.68%.

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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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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