Utah Retirement Systems cut its position in HP Inc. (NYSE:HPQ) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 299,735 shares of the computer maker’s stock after selling 4,500 shares during the quarter. Utah Retirement Systems’ holdings in HP were worth $7,724,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. CSat Investment Advisory L.P. acquired a new position in HP in the 2nd quarter valued at $113,000. Capital Advisors Ltd. LLC grew its stake in HP by 6,530.8% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 7,095 shares of the computer maker’s stock valued at $183,000 after buying an additional 6,988 shares during the last quarter. United Capital Management of KS Inc. acquired a new position in HP in the 3rd quarter valued at $201,000. Segall Bryant & Hamill LLC acquired a new position in HP in the 2nd quarter valued at $203,000. Finally, Truvestments Capital LLC acquired a new position in HP in the 2nd quarter valued at $204,000. Institutional investors and hedge funds own 78.94% of the company’s stock.
A number of research analysts recently issued reports on HPQ shares. Morgan Stanley lowered their target price on shares of HP from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 4th. JPMorgan Chase & Co. lowered shares of HP from an “overweight” rating to a “neutral” rating and raised their target price for the company from $28.00 to $29.00 in a research note on Friday, October 5th. Bank of America raised their target price on shares of HP from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 4th. Loop Capital raised their price target on shares of HP to $30.00 and gave the stock a “positive” rating in a research report on Thursday, October 4th. Finally, UBS Group raised their price target on shares of HP from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.25.
In other 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 transaction of $91,854.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dion J. Weisler sold 86,389 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $24.80, for a total transaction of $2,142,447.20. Following the transaction, the insider now directly owns 815,945 shares of the company’s stock, valued at $20,235,436. The disclosure for this sale can be found here. Insiders have sold a total of 829,934 shares of company stock valued at $21,227,333 over the last ninety days. 0.25% of the stock is owned by insiders.
NYSE HPQ opened at $23.09 on Thursday. The firm has a market capitalization of $36.78 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 2.25 and a beta of 1.45. HP Inc. has a 52-week low of $19.31 and a 52-week high of $27.08.
HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, November 29th. The computer maker reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $15.37 billion for the quarter, compared to analyst estimates of $15.13 billion. HP had a net margin of 9.11% and a negative return on equity of 188.62%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Sell-side analysts predict that HP Inc. will post 2.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Thursday, December 13th will be issued a dividend of $0.1602 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.78%. This is an increase from HP’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, December 12th. HP’s dividend payout ratio (DPR) is presently 27.72%.
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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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