Hussman Strategic Advisors Inc. Has $114,000 Stake in HP Inc. (HPQ)
Hussman Strategic Advisors Inc. held its position in HP Inc. (NYSE:HPQ) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,500 shares of the computer maker’s stock at the end of the second quarter. Hussman Strategic Advisors Inc.’s holdings in HP were worth $114,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in HP by 5.6% in the second quarter. IFP Advisors Inc now owns 33,606 shares of the computer maker’s stock valued at $587,000 after buying an additional 1,773 shares during the last quarter. ARP Americas LLC purchased a new position in HP during the second quarter valued at $338,000. Capital Investment Advisory Services LLC purchased a new position in HP during the second quarter valued at $183,000. Rand Wealth LLC boosted its position in HP by 2.2% in the second quarter. Rand Wealth LLC now owns 45,943 shares of the computer maker’s stock valued at $803,000 after buying an additional 1,000 shares during the last quarter. Finally, Sei Investments Co. boosted its position in HP by 15.5% in the second quarter. Sei Investments Co. now owns 2,064,048 shares of the computer maker’s stock valued at $36,079,000 after buying an additional 276,764 shares during the last quarter. 78.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HP Inc. (NYSE:HPQ) opened at 19.32 on Wednesday. The stock has a market capitalization of $32.52 billion, a price-to-earnings ratio of 13.66 and a beta of 1.90. HP Inc. has a 12-month low of $13.55 and a 12-month high of $19.58. The stock’s 50 day moving average is $18.32 and its 200-day moving average is $17.66.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. On average, analysts expect that HP Inc. will post $1.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.75%. HP’s dividend payout ratio is currently 37.32%.
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Several research analysts have recently weighed in on the stock. BidaskClub cut shares of HP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $21.00 to $22.00 in a report on Thursday, July 20th. Jefferies Group LLC upped their price target on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a report on Tuesday, July 18th. Susquehanna Bancshares Inc assumed coverage on shares of HP in a report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 12th. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. HP currently has an average rating of “Buy” and an average target price of $19.89.
In other HP news, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $19.36, for a total value of $4,297,145.60. Following the transaction, the director now directly owns 692,849 shares in the company, valued at approximately $13,413,556.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total transaction of $1,309,658.40. Following the completion of the transaction, the director now owns 544,881 shares in the company, valued at $9,644,393.70. The disclosure for this sale can be found here. Insiders sold a total of 1,748,815 shares of company stock worth $32,623,560 over the last 90 days. 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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