Capital Investment Counsel Inc Has $468,000 Position in HP Inc. (HPQ)
Capital Investment Counsel Inc cut its stake in shares of HP Inc. (NYSE:HPQ) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 26,757 shares of the computer maker’s stock after selling 1,215 shares during the period. Capital Investment Counsel Inc’s holdings in HP were worth $468,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Partners increased its position 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 valued at $456,535,000 after buying an additional 19,667,780 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HP during the first quarter valued at approximately $79,108,000. Renaissance Technologies LLC purchased a new position in shares of HP during the first quarter valued at approximately $62,824,000. Morgan Stanley increased 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 valued at $131,121,000 after buying an additional 3,003,129 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of HP during the second quarter valued at approximately $50,275,000. 79.90% of the stock is owned by hedge funds and other institutional investors.
HP Inc. (NYSE:HPQ) opened at 18.51 on Friday. The stock has a market cap of $31.16 billion, a PE ratio of 13.09 and a beta of 1.90. The firm has a 50 day moving average of $18.67 and a 200-day moving average of $17.95. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58.
HP (NYSE:HPQ) last released its earnings results 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. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS. Equities analysts anticipate that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.87%. HP’s dividend payout ratio (DPR) is presently 37.32%.
COPYRIGHT VIOLATION NOTICE: “Capital Investment Counsel Inc Has $468,000 Position in HP Inc. (HPQ)” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/08/19/capital-investment-counsel-inc-has-468000-position-in-hp-inc-hpq.html.
Several research analysts have commented on HPQ shares. Vetr downgraded shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price target for the company. in a report on Monday, June 5th. ValuEngine raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Susquehanna Bancshares Inc started coverage on shares of HP in a report on Thursday, July 13th. They issued a “neutral” rating and a $20.00 price target for the company. Royal Bank Of Canada raised their price target 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, Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 12th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.89.
In other news, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the sale, the chief operating officer now owns 62,203 shares in the company, valued at approximately $1,135,826.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 221,960 shares of the firm’s 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 sale, the director now owns 692,849 shares of the company’s stock, valued at approximately $13,413,556.64. The disclosure for this sale can be found here. Insiders sold a total of 1,748,815 shares of company stock valued at $32,623,560 in the last 90 days. Company 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.
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.