Koch Industries Inc. Purchases New Position in HP Inc. (HPQ)
Koch Industries Inc. purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,445 shares of the computer maker’s stock, valued at approximately $223,000.
A number of other institutional investors also recently made changes to their positions in HPQ. Dodge & Cox acquired a new position in shares of HP during the fourth quarter worth about $2,073,164,000. Norges Bank acquired a new position in shares of HP during the fourth quarter worth about $225,623,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of HP during the fourth quarter worth about $145,193,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of HP during the fourth quarter worth about $143,429,000. Finally, DnB Asset Management AS raised its position in shares of HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock worth $70,430,000 after buying an additional 3,443,455 shares during the period. Institutional investors own 80.37% of the company’s stock.
HP Inc. (NYSE HPQ) opened at 17.80 on Friday. HP Inc. has a 1-year low of $11.48 and a 1-year high of $19.58. The firm has a market cap of $29.96 billion, a P/E ratio of 12.59 and a beta of 1.76. The stock’s 50 day moving average price is $18.61 and its 200 day moving average price is $16.99.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Equities research analysts predict that HP Inc. will post $1.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be issued a $0.1327 dividend. The ex-dividend date of this dividend is Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.98%. HP’s dividend payout ratio (DPR) is 37.32%.
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A number of brokerages have recently issued reports on HPQ. Bank of America Corporation raised their target price on shares of HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Citigroup Inc. set a $20.00 target price on shares of HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Jefferies Group LLC raised their target price on shares of HP from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 target price (up from $18.00) on shares of HP in a research report on Friday, May 19th. Finally, Mizuho raised their target price on shares of HP from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. HP presently has an average rating of “Hold” and a consensus price target of $19.64.
In other 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 completion of the sale, the chief operating officer now owns 62,203 shares in the company, valued at $1,135,826.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ron Coughlin sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total value of $181,400.00. Following the completion of the sale, the insider now owns 61,745 shares of the company’s stock, valued at approximately $1,120,054.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,163,143 shares of company stock valued at $20,762,933. Insiders own 0.62% of the company’s stock.
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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