Van ECK Associates Corp boosted its holdings in HP Inc. (NYSE:HPQ – Free Report) by 39.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,839 shares of the computer maker’s stock after purchasing an additional 22,384 shares during the period. Van ECK Associates Corp’s holdings in HP were worth $1,730,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of HPQ. Baird Financial Group Inc. grew its position in shares of HP by 13.1% during the second quarter. Baird Financial Group Inc. now owns 114,169 shares of the computer maker’s stock worth $2,793,000 after buying an additional 13,265 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in HP by 2.7% in the second quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker’s stock valued at $519,000 after acquiring an additional 551 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in HP by 6.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 145,337 shares of the computer maker’s stock valued at $3,555,000 after acquiring an additional 8,779 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in HP by 70.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 731,574 shares of the computer maker’s stock worth $17,894,000 after acquiring an additional 302,578 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new stake in shares of HP in the 2nd quarter worth about $233,000. Institutional investors and hedge funds own 77.53% of the company’s stock.
HP Price Performance
NYSE:HPQ opened at $32.66 on Friday. The firm has a market capitalization of $29.45 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.66 and a beta of 1.18. The business has a 50 day simple moving average of $27.21 and a 200 day simple moving average of $23.19. HP Inc. has a 12-month low of $17.56 and a 12-month high of $32.78.
HP Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be given a $0.30 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 annualized dividend and a yield of 3.7%. HP’s dividend payout ratio is 45.80%.
Insider Activity at HP
In other news, insider David McQuarrie sold 21,048 shares of HP stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the sale, the insider owned 39,580 shares of the company’s stock, valued at approximately $1,186,608.40. The trade was a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,620 shares of company stock valued at $1,478,622 in the last quarter. 0.18% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Bank of America reiterated an “underperform” rating on shares of HP in a research note on Thursday, August 27th. TD Cowen upped their price target on HP from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 27th. Sanford C. Bernstein reiterated a “market perform” rating and set a $32.00 target price on shares of HP in a research note on Thursday, August 27th. The Goldman Sachs Group increased their target price on shares of HP from $19.00 to $21.00 and gave the stock a “sell” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of HP from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, HP presently has an average rating of “Reduce” and a consensus target price of $25.17.
Get Our Latest Research Report on HP
HP Company Profile
HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.
Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.
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