Huntington National Bank cut its stake in HP Inc. (NYSE:HPQ) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 201,111 shares of the computer maker’s stock after selling 6,141 shares during the period. Huntington National Bank’s holdings in HP were worth $3,516,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HPQ. Vanguard Group Inc. boosted its position in shares of HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock valued at $2,175,775,000 after buying an additional 2,122,269 shares during the period. State Street Corp boosted its position in shares of HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock valued at $1,421,893,000 after buying an additional 515,648 shares during the period. Primecap Management Co. CA boosted its position in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock valued at $1,141,660,000 after buying an additional 2,163,147 shares during the period. American International Group Inc. boosted its position in shares of HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock valued at $519,522,000 after buying an additional 457,514 shares during the period. Finally, LSV Asset Management boosted its position in shares of HP by 4.8% in the first quarter. LSV Asset Management now owns 13,611,654 shares of the computer maker’s stock valued at $243,376,000 after buying an additional 621,847 shares during the period. 78.97% of the stock is owned by institutional investors and hedge funds.
Shares of HP Inc. (HPQ) remained flat at $18.90 during trading on Friday. 6,609,939 shares of the company traded hands. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58. The firm’s 50-day moving average price is $18.53 and its 200-day moving average price is $17.82. The firm has a market cap of $31.82 billion, a PE ratio of 13.37 and a beta of 1.90.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. HP’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, equities research analysts anticipate that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.81%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is 37.32%.
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Several research firms have recently weighed in on HPQ. Barclays PLC raised shares of HP from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $22.00 in a report on Wednesday, April 19th. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price objective on shares of HP in a report on Friday, May 26th. Zacks Investment Research cut shares of HP from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC boosted their target price on shares of HP from $18.00 to $18.75 and gave the company a “hold” rating in a research report on Tuesday, July 18th. Finally, Bank of America Corporation boosted their target price on shares of HP from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. HP has a consensus rating of “Buy” and a consensus price target of $19.89.
In other HP news, COO Jon E. Flaxman sold 35,000 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the sale, the chief operating officer now owns 62,203 shares of the company’s stock, valued at $1,135,826.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marie Myers sold 12,119 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total value of $218,990.33. Following the completion of the sale, the insider now directly owns 5,621 shares in the company, valued at approximately $101,571.47. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock valued at $32,623,560 in the last quarter. 0.62% of the stock is currently owned by company insiders.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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