HP Inc. (HPQ) Position Lowered by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its position in shares of HP Inc. (NYSE:HPQ) by 11.0% during the second quarter, Holdings Channel reports. The institutional investor owned 273,544 shares of the computer maker’s stock after selling 33,740 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in HP were worth $4,782,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of HPQ. Vanguard Group Inc. raised its stake in shares of HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock worth $2,175,775,000 after buying an additional 2,122,269 shares in the last quarter. State Street Corp raised its stake in shares of HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock worth $1,421,893,000 after buying an additional 515,648 shares in the last quarter. Primecap Management Co. CA raised its stake 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 in the last quarter. American International Group Inc. raised its stake in shares of HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock worth $519,522,000 after buying an additional 457,514 shares in the last quarter. Finally, Boston Partners raised its stake in shares of HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares in the last quarter. 78.97% of the stock is owned by hedge funds and other institutional investors.
HP Inc. (NYSE:HPQ) opened at 18.90 on Friday. HP Inc. has a one year low of $13.55 and a one year high of $19.58. The company has a 50-day moving average of $18.53 and a 200 day moving average of $17.82. The firm has a market cap of $31.82 billion, a P/E ratio of 13.37 and a beta of 1.90.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts expect that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders 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 2.81%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is 37.32%.
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A number of analysts recently weighed in on the stock. Barclays PLC raised shares of HP from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $17.00 to $22.00 in a research note on Wednesday, April 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 price objective on shares of HP in a research note on Friday, May 26th. Zacks Investment Research lowered shares of HP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Jefferies Group LLC upped their price objective on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Finally, Bank of America Corporation upped their price objective on shares of HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. HP has an average rating of “Buy” and an average price target of $19.89.
In other HP news, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the transaction, the director now owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total value of $1,309,658.40. Following the transaction, the director now directly owns 544,881 shares in the company, valued at approximately $9,644,393.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,748,815 shares of company stock worth $32,623,560. 0.62% of the stock is currently owned by corporate 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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