Norinchukin Bank The Grows Holdings in HP Inc. (HPQ)
Norinchukin Bank The boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,816 shares of the computer maker’s stock after buying an additional 6,778 shares during the period. Norinchukin Bank The’s holdings in HP were worth $2,042,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings in HP by 0.4% during the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock worth $218,000 after buying an additional 41 shares during the last quarter. Montecito Bank & Trust raised its holdings in HP by 0.3% during the second quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock worth $303,000 after buying an additional 60 shares during the last quarter. Savant Capital LLC raised its holdings in HP by 0.3% during the first quarter. Savant Capital LLC now owns 24,276 shares of the computer maker’s stock worth $434,000 after buying an additional 80 shares during the last quarter. Destination Wealth Management raised its holdings in HP by 0.5% during the first quarter. Destination Wealth Management now owns 15,603 shares of the computer maker’s stock worth $279,000 after buying an additional 83 shares during the last quarter. Finally, Intrust Bank NA raised its holdings in HP by 0.5% during the first quarter. Intrust Bank NA now owns 25,997 shares of the computer maker’s stock worth $464,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.
HP Inc. (HPQ) opened at 19.47 on Friday. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 14.15 and a beta of 1.93. HP Inc. has a 12 month low of $13.77 and a 12 month high of $19.78. The firm’s 50-day moving average is $19.16 and its 200-day moving average is $18.40.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts anticipate that HP Inc. will post $1.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders 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 dividend yield of 2.73%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is currently 38.41%.
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In other news, insider Marie Myers sold 12,119 shares of the company’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 of the company’s stock, valued at approximately $101,571.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the sale, the director now directly owns 544,881 shares of the company’s stock, valued at approximately $9,655,291.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,725,567 shares of company stock valued at $32,210,686 in the last ninety days. Insiders own 0.62% of the company’s stock.
Several research analysts have weighed in on the stock. UBS AG restated a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of HP in a report on Thursday, May 25th. BidaskClub downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $14.00 price objective on shares of HP in a report on Thursday, August 24th. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 price objective (up previously from $18.00) on shares of HP in a report on Friday, May 19th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $19.50 price objective on shares of HP in a report on Thursday, August 24th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $20.57.
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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