Twin Capital Management Inc. lessened its holdings in shares of HP Inc. (NYSE:HPQ) by 74.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,492 shares of the computer maker’s stock after selling 77,898 shares during the period. Twin Capital Management Inc.’s holdings in HP were worth $551,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of HPQ. Icon Wealth Partners LLC acquired a new position in shares of HP during the first quarter worth $27,000. First Personal Financial Services lifted its holdings in HP by 101.9% in the first quarter. First Personal Financial Services now owns 1,621 shares of the computer maker’s stock valued at $31,000 after buying an additional 818 shares during the period. Rational Advisors LLC lifted its holdings in HP by 1,557.8% in the first quarter. Rational Advisors LLC now owns 1,923 shares of the computer maker’s stock valued at $37,000 after buying an additional 1,807 shares during the period. Coastal Capital Group Inc. acquired a new position in HP in the second quarter valued at $39,000. Finally, Berman Capital Advisors LLC lifted its holdings in HP by 378.6% in the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after buying an additional 1,609 shares during the period. Institutional investors own 78.06% of the company’s stock.
In other HP news, Director Shumeet Banerji sold 28,000 shares of HP stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.00, for a total value of $560,000.00. Following the completion of the sale, the director now directly owns 31,311 shares of the company’s stock, valued at $626,220. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Dion J. Weisler sold 132,964 shares of HP stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $20.95, for a total transaction of $2,785,595.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,635 shares of company stock valued at $4,423,266. Insiders own 0.25% of the company’s stock.
HPQ traded up $0.45 during midday trading on Friday, hitting $19.08. The company had a trading volume of 10,938,900 shares, compared to its average volume of 8,453,770. HP Inc. has a 52 week low of $18.06 and a 52 week high of $27.08. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 2.90 and a beta of 1.40. The stock’s 50 day moving average price is $20.66 and its 200 day moving average price is $20.42.
HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, May 23rd. The computer maker reported $0.53 earnings per share for the quarter, beating 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 firm had revenue of $14.04 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that HP Inc. will post 2.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, September 10th. HP’s dividend payout ratio (DPR) is currently 31.68%.
Several research firms recently issued reports on HPQ. ValuEngine lowered shares of HP from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Barclays began coverage on shares of HP in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $21.00 target price on the stock. Deutsche Bank began coverage on shares of HP in a report on Wednesday, June 19th. They issued a “hold” rating and a $20.00 target price on the stock. Evercore ISI began coverage on shares of HP in a report on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, Morgan Stanley boosted their target price on shares of HP from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $24.24.
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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