HP Inc. (HPQ) Shares Bought by IFP Advisors Inc
IFP Advisors Inc raised its stake in HP Inc. (NYSE:HPQ) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,606 shares of the computer maker’s stock after buying an additional 1,773 shares during the period. IFP Advisors Inc’s holdings in HP were worth $587,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter valued at $112,000. CWM LLC increased 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 during the last quarter. YorkBridge Wealth Partners LLC increased 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 during the last quarter. First Command Bank increased 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 during the last quarter. Finally, TrimTabs Asset Management LLC increased 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 during the last quarter. 78.97% of the stock is owned by institutional investors and hedge funds.
HP Inc. (NYSE HPQ) opened at 18.90 on Friday. 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 price is $18.53 and its 200-day moving average price is $17.82. The stock has a market capitalization of $31.82 billion, a PE ratio of 13.37 and a beta of 1.90.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion during 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 business’s quarterly 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 earnings per share. Analysts expect that HP Inc. will post $1.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.1327 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.81%. HP’s payout ratio is currently 37.32%.
Several research analysts have recently weighed in on HPQ shares. UBS AG reaffirmed a “buy” rating and set a $22.00 target price (up from $20.00) on shares of HP in a research note on Thursday, May 25th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, April 25th. Citigroup Inc. raised HP from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $19.00 target price on shares of HP in a research note on Tuesday, May 23rd. Finally, Bank of America Corporation upped their target price on 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 given a buy rating and one has assigned a strong buy rating to the company. HP currently has a consensus rating of “Buy” and an average target price of $19.89.
In related news, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total value of $4,297,145.60. Following the completion of the transaction, the director now directly owns 692,849 shares in the company, valued at $13,413,556.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction 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 completion of 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. Insiders sold 1,748,815 shares of company stock valued at $32,623,560 over the last quarter. 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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