Oppenheimer Asset Management Inc. lessened its stake in shares of HP Inc (NYSE:HPQ) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,433 shares of the computer maker’s stock after selling 10,055 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in HP were worth $2,284,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in shares of HP by 19.7% in the 2nd 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 period. YorkBridge Wealth Partners LLC raised its position in shares of HP by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after buying an additional 200 shares during the period. Evercore Wealth Management LLC raised its position in shares of HP by 14.0% in the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after buying an additional 836 shares during the period. D.A. Davidson & CO. raised its position in shares of HP by 1.1% in the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after buying an additional 85 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of HP by 9.8% in the 2nd quarter. Advisory Services Network LLC now owns 9,217 shares of the computer maker’s stock worth $161,000 after buying an additional 824 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.
In other news, insider Marie Myers sold 10,025 shares of the business’s 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 transaction, the insider now directly owns 10,025 shares in the company, valued at $195,487.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Enrique Lores sold 40,965 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $21.50, for a total value of $880,747.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,139,153 shares of company stock valued at $44,020,119. 0.62% of the stock is currently owned by insiders.
Several research analysts have commented on the company. Royal Bank of Canada reissued a “buy” rating and issued a $22.00 price objective on shares of HP in a research report on Thursday, August 24th. Loop Capital assumed coverage on HP in a research report on Tuesday, August 22nd. They issued a “buy” rating and a $23.00 price objective on the stock. Deutsche Bank reissued a “buy” rating on shares of HP in a research report on Thursday, August 24th. Mizuho reissued a “buy” rating and issued a $21.00 price objective on shares of HP in a research report on Thursday, August 24th. Finally, Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, October 10th. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.31.
Shares of HP Inc (HPQ) traded up $0.23 during mid-day trading on Tuesday, reaching $21.30. The company’s stock had a trading volume of 7,730,500 shares, compared to its average volume of 10,970,669. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00. HP Inc has a 12 month low of $14.40 and a 12 month high of $22.68. The firm has a market capitalization of $35,192.25, a P/E ratio of 12.77, a P/E/G ratio of 2.23 and a beta of 1.81.
HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 21st. The computer maker reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. HP had a negative return on equity of 70.25% and a net margin of 4.85%. The company had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. HP’s quarterly revenue was up 11.3% compared to the same quarter last year. analysts anticipate that HP Inc will post 1.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be paid a $0.1393 dividend. This is an increase from HP’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, December 12th. HP’s payout ratio is presently 35.57%.
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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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