Korea Investment CORP Sells 149,983 Shares of HP Inc. (NYSE:HPQ)
Korea Investment CORP lowered its stake in shares of HP Inc. (NYSE:HPQ) by 14.0% during the second quarter, Holdings Channel reports. The institutional investor owned 921,080 shares of the computer maker’s stock after selling 149,983 shares during the period. Korea Investment CORP’s holdings in HP were worth $16,100,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. American Beacon Advisors Inc. purchased a new position in shares of HP during the first quarter valued at approximately $112,000. YorkBridge Wealth Partners LLC raised its position 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 in the last quarter. CWM LLC raised its position 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 in the last quarter. First Command Bank raised its position 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 in the last quarter. Finally, TrimTabs Asset Management LLC raised its position 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 in the last quarter. 78.97% of the stock is owned by institutional investors and hedge funds.
HP Inc. (NYSE:HPQ) opened at 19.32 on Tuesday. The company’s 50 day moving average price is $18.17 and its 200-day moving average price is $17.62. The company has a market capitalization of $32.52 billion, a P/E ratio of 13.66 and a beta of 1.90. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. HP’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Equities research analysts expect that HP Inc. will post $1.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio is currently 37.32%.
Several equities analysts have recently issued reports on the company. UBS AG reaffirmed a “buy” rating and issued a $22.00 price target (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. BidaskClub lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $21.00 price target on shares of HP in a research report on Friday, July 14th. Citigroup Inc. set a $20.00 price target on HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Mizuho raised HP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $21.00 in a research report on Monday, July 10th. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.89.
In related news, COO Jon E. Flaxman sold 35,000 shares of HP stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $18.26, for a total transaction of $639,100.00. Following the completion of the transaction, the chief operating officer now directly owns 62,203 shares in the company, valued at $1,135,826.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the transaction, the director now owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,748,815 shares of company stock valued at $32,623,560. 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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