Gilbert & Cook Inc. Acquires New Stake in HP Inc. (HPQ)
Gilbert & Cook Inc. acquired a new position in shares of HP Inc. (NYSE:HPQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,368 shares of the computer maker’s stock, valued at approximately $303,000.
Other hedge funds also recently bought and sold shares of the company. Trexquant Investment LP bought a new stake in HP during the first quarter worth $833,000. ZWJ Investment Counsel Inc. purchased a new stake in shares of HP during the first quarter worth approximately $443,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock worth $26,145,000 after buying an additional 754,019 shares during the period. Xact Kapitalforvaltning AB boosted its stake in shares of HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock worth $4,476,000 after buying an additional 6,074 shares during the period. Finally, American Beacon Advisors Inc. purchased a new stake in shares of HP during the first quarter worth approximately $112,000. Institutional investors and hedge funds own 79.63% of the company’s stock.
HP Inc. (NYSE:HPQ) traded up 1.40% during trading on Tuesday, hitting $19.51. 4,370,985 shares of the company traded hands. The company’s 50-day moving average is $17.99 and its 200 day moving average is $17.43. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 13.80 and a beta of 1.89. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58.
HP (NYSE:HPQ) last released its 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. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the company earned $0.41 earnings per share. HP’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that HP Inc. will post $1.64 earnings per share for the current 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 $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Monday, June 12th. HP’s dividend payout ratio is currently 37.32%.
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A number of equities analysts have recently issued reports on the stock. UBS AG reissued a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Royal Bank Of Canada upgraded shares of HP from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $21.00 to $22.00 in a research note on Thursday, July 20th. BidaskClub lowered 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) increased their price objective on shares of HP from $16.50 to $18.00 and gave the company a “neutral” rating in a research note 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 company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.89.
In related news, 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 transaction of $189,500.00. Following the completion of the sale, the insider now owns 51,745 shares in the company, valued at approximately $980,567.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret C. Whitman sold 295,952 shares of HP stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $18.02, for a total value of $5,333,055.04. Following the sale, the director now owns 618,865 shares of the company’s stock, valued at approximately $11,151,947.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,213,319 shares of company stock valued at $22,226,676. 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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