HP Inc. (HPQ) Shares Sold by Rhumbline Advisers
Rhumbline Advisers reduced its stake in HP Inc. (NYSE:HPQ) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,950,523 shares of the computer maker’s stock after selling 28,593 shares during the period. Rhumbline Advisers’ holdings in HP were worth $51,575,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new position in HP during the first quarter valued at about $112,000. CWM LLC boosted its position in 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 boosted its position in 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 boosted its position in 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 boosted its position in 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. 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. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58. The firm has a market capitalization of $31.82 billion, a price-to-earnings ratio of 13.37 and a beta of 1.90. The firm has a 50-day moving average price of $18.53 and a 200-day moving average price of $17.82.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the company posted $0.41 earnings per share. HP’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is currently 37.32%.
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HPQ has been the subject of several research analyst reports. UBS AG reiterated a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday, April 25th. Citigroup Inc. upgraded HP from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 18th. Credit Suisse Group reiterated a “buy” rating and issued a $19.00 price objective on shares of HP in a research report on Tuesday, May 23rd. Finally, Bank of America Corporation increased their price objective on HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. 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 stock. The company presently has an average rating of “Buy” and an average target price of $19.89.
In related news, Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the transaction, the director now owns 692,849 shares in the company, valued at $13,413,556.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the transaction, the director now owns 692,849 shares of the company’s stock, valued at approximately $13,385,842.68. The disclosure for this sale can be found here. Insiders have sold 1,748,815 shares of company stock valued at $32,623,560 in the last quarter. 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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