Stratos Wealth Partners LTD. Reduces Position in HP Inc. (HPQ)
Stratos Wealth Partners LTD. cut its position in shares of HP Inc. (NYSE:HPQ) by 46.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,576 shares of the computer maker’s stock after selling 12,472 shares during the period. Stratos Wealth Partners LTD.’s holdings in HP were worth $255,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in HPQ. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of HP during the first quarter worth $79,108,000. Renaissance Technologies LLC acquired a new position in shares of HP during the first quarter worth $62,824,000. DnB Asset Management AS boosted its position 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 boosted its position 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 boosted its position 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 78.97% of the company’s stock.
Shares of HP Inc. (NYSE HPQ) opened at 18.90 on Friday. The stock has a market cap of $31.82 billion, a P/E ratio of 13.37 and a beta of 1.90. The company has a 50-day moving average of $18.50 and a 200 day moving average of $17.79. 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 data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts forecast that HP Inc. will post $1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
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HPQ has been the subject of a number of research reports. Vetr cut shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price objective for the company. in a report on Monday, June 5th. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Susquehanna Bancshares Inc initiated coverage on shares of HP in a report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 price objective for the company. Royal Bank Of Canada lifted their price objective on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Thursday, May 25th. Finally, Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $22.00 in a report on Wednesday, April 19th. Nine equities research 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.89.
In related news, Director Margaret C. Whitman sold 73,992 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the transaction, the director now directly owns 544,881 shares in the company, valued at $9,655,291.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the transaction, the chief operating officer now owns 62,203 shares in the company, valued at $1,135,826.78. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock worth $32,623,560 over the last 90 days. 0.62% of the stock is currently owned by company insiders.
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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