Wealthfront Inc. Grows Position in HP Inc. (HPQ)

Wealthfront Inc. increased its stake in shares of HP Inc. (NYSE:HPQ) by 22.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,568 shares of the computer maker’s stock after buying an additional 6,120 shares during the quarter. Wealthfront Inc.’s holdings in HP were worth $587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. grew its holdings in shares of HP by 19.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after buying an additional 1,013 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in shares of HP during the first quarter worth about $112,000. First Command Bank grew its holdings in shares of HP by 80.0% during the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after buying an additional 2,984 shares during the last quarter. TrimTabs Asset Management LLC grew its holdings in shares of HP by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock worth $124,000 after buying an additional 3,264 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of HP by 15.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock worth $130,000 after buying an additional 996 shares during the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.

HPQ has been the topic of a number of research reports. BMO Capital Markets raised their price target on HP from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, May 25th. Citigroup Inc. set a $20.00 price target on HP and gave the stock a “buy” rating in a report on Thursday, May 25th. Mizuho lifted their price objective on HP from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) lifted their price objective on HP from $16.50 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Finally, Royal Bank Of Canada lifted their price objective on HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. HP has a consensus rating of “Buy” and an average price target of $20.57.

In other HP news, Director Margaret C. Whitman sold 443,920 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the sale, the director now owns 692,849 shares in the company, valued at approximately $13,385,842.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marie Myers sold 10,025 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $195,487.50. Following the completion of the sale, the insider now owns 10,025 shares of the company’s stock, valued at approximately $195,487.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,587,608 shares of company stock valued at $29,785,377. Insiders own 0.62% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Stock Observer and is the sole property of of Stock Observer. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.thestockobserver.com/2017/09/22/wealthfront-inc-grows-position-in-hp-inc-hpq.html.

Shares of HP Inc. (HPQ) traded down 0.05% on Friday, reaching $19.76. The company’s stock had a trading volume of 1,508,003 shares. HP Inc. has a 1-year low of $13.77 and a 1-year high of $19.80. The stock has a market capitalization of $33.00 billion, a PE ratio of 14.36 and a beta of 1.93. The stock has a 50-day moving average of $19.18 and a 200 day moving average of $18.44.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The company had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that HP Inc. will post $1.65 EPS for the current year.

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.71%. HP’s payout ratio is 38.41%.

About HP

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.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply