HP Inc. (HPQ) Stake Reduced by Alpha Windward LLC
Alpha Windward LLC decreased its stake in HP Inc. (NYSE:HPQ) by 64.9% during the second quarter, Holdings Channel reports. The institutional investor owned 16,343 shares of the computer maker’s stock after selling 30,184 shares during the period. Alpha Windward LLC’s holdings in HP were worth $286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in HP during the first quarter valued at $79,108,000. Renaissance Technologies LLC purchased a new stake in shares of HP during the first quarter worth approximately $62,824,000. DnB Asset Management AS raised its stake 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. Morgan Stanley raised its stake in shares of HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock worth $131,121,000 after buying an additional 3,003,129 shares during the period. Finally, Primecap Management Co. CA raised its stake 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 worth $1,141,660,000 after buying an additional 2,163,147 shares during the period. Hedge funds and other institutional investors own 79.49% of the company’s stock.
HP Inc. (NYSE HPQ) traded up 1.11% during midday trading on Friday, reaching $19.15. The company’s stock had a trading volume of 9,235,767 shares. HP Inc. has a 12 month low of $13.55 and a 12 month high of $19.58. The company has a market cap of $32.24 billion, a PE ratio of 13.54 and a beta of 1.89. The stock has a 50-day moving average price of $17.98 and a 200 day moving average price of $17.35.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. Analysts expect that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th were given a dividend of $0.1327 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.77%. HP’s dividend payout ratio (DPR) is currently 37.32%.
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HPQ has been the topic of a number of research reports. Barclays PLC upgraded HP from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $22.00 in a report on Wednesday, April 19th. Citigroup Inc. upgraded HP from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.54 to $20.00 in a report on Wednesday, April 12th. Stifel Nicolaus restated a “hold” rating and issued a $14.00 price target on shares of HP in a report on Friday, May 26th. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, Jefferies Group LLC boosted their price target on HP from $18.00 to $18.75 and gave the company a “hold” rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. HP currently has an average rating of “Buy” and an average target price of $19.89.
In other news, Director Margaret C. Whitman sold 147,976 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $17.92, for a total transaction of $2,651,729.92. Following the completion of the transaction, the director now directly owns 618,865 shares in the company, valued at approximately $11,090,060.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Margaret C. Whitman sold 295,936 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $19.00, for a total transaction of $5,622,784.00. Following the transaction, the director now owns 766,825 shares of the company’s stock, valued at $14,569,675. The disclosure for this sale can be found here. Insiders have sold a total of 1,213,319 shares of company stock valued at $22,226,676 over the last 90 days. Company 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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