Pzena Investment Management LLC Sells 151,008 Shares of HP Inc. (HPQ)
Pzena Investment Management LLC decreased its position in shares of HP Inc. (NYSE:HPQ) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,112,050 shares of the computer maker’s stock after selling 151,008 shares during the period. Pzena Investment Management LLC owned 0.36% of HP worth $106,839,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of HPQ. American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter worth about $112,000. YorkBridge Wealth Partners LLC boosted 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 worth $118,000 after buying an additional 675 shares during the period. First Command Bank boosted 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 worth $118,000 after buying an additional 2,984 shares during the period. TrimTabs Asset Management LLC boosted 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 worth $124,000 after buying an additional 3,264 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of HP by 15.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock worth $130,000 after buying an additional 996 shares during the period. 79.90% of the stock is owned by institutional investors.
HP Inc. (HPQ) traded up 0.05% during trading on Monday, hitting $18.52. 1,134,542 shares of the company’s stock were exchanged. The firm has a market cap of $31.18 billion, a price-to-earnings ratio of 13.10 and a beta of 1.90. The company’s 50-day moving average price is $18.67 and its 200 day moving average price is $17.95. HP Inc. has a 12-month low of $13.55 and a 12-month high of $19.58.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion for 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%. HP’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. Equities analysts forecast that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors 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 yield of 2.87%. HP’s dividend payout ratio (DPR) is currently 37.32%.
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Several research analysts have issued reports on HPQ shares. UBS AG reaffirmed a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of HP in a report on Thursday, May 25th. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $21.00 to $22.00 in a report on Thursday, July 20th. BidaskClub cut shares of HP from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, April 25th. Finally, Goldman Sachs Group, Inc. (The) lifted their target price on shares of HP from $16.50 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.89.
In related news, COO Jon E. Flaxman sold 35,000 shares of the business’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 sale, the chief operating officer now directly owns 62,203 shares in the company, valued at approximately $1,135,826.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marie Myers sold 12,119 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the sale, the insider now owns 5,621 shares in the company, valued at $101,571.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,748,815 shares of company stock worth $32,623,560. 0.62% of the stock is owned by 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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