HP Inc. (HPQ) Position Raised by Whittier Trust Co. of Nevada Inc.
Whittier Trust Co. of Nevada Inc. increased its stake in shares of HP Inc. (NYSE:HPQ) by 15.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,443 shares of the computer maker’s stock after buying an additional 996 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in HP were worth $130,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. American Beacon Advisors Inc. bought a new stake in shares of HP during the first quarter valued at approximately $112,000. CWM LLC boosted its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares during the period. First Command Bank boosted its stake in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares during the period. Finally, TrimTabs Asset Management LLC boosted its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after buying an additional 3,264 shares during the period. Hedge funds and other institutional investors own 79.63% of the company’s stock.
HP Inc. (NYSE HPQ) opened at 19.19 on Monday. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58. The firm’s 50 day moving average price is $17.98 and its 200 day moving average price is $17.35. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of 13.57 and a beta of 1.89.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that HP Inc. will post $1.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th were given a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, June 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
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Several brokerages recently commented on HPQ. UBS AG reiterated a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of HP in a research note on Thursday, May 25th. Royal Bank Of Canada upgraded shares of HP from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $21.00 to $22.00 in a research note on Thursday. BidaskClub cut shares of HP from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, April 25th. Finally, Goldman Sachs Group, Inc. (The) lifted their target price on shares of HP from $16.50 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.89.
In other HP news, insider Marie Myers sold 12,119 shares of HP stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the sale, the insider now owns 5,621 shares of the company’s stock, valued at $101,571.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ron Coughlin sold 10,000 shares of HP stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the sale, the insider now directly owns 51,745 shares of the company’s stock, valued at approximately $980,567.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,213,319 shares of company stock valued at $22,226,676. 0.62% of the stock is owned by company insiders.
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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