Nationwide Fund Advisors Raises Stake in HP Inc. (HPQ)
Nationwide Fund Advisors lifted its stake in shares of HP Inc. (NYSE:HPQ) by 106.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,442,841 shares of the computer maker’s stock after acquiring an additional 742,294 shares during the period. Nationwide Fund Advisors owned approximately 0.09% of HP worth $25,221,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of HPQ. Waldron LP bought a new stake in shares of HP during the first quarter worth $288,000. LS Investment Advisors LLC increased its position in shares of HP by 7.4% during the first quarter. LS Investment Advisors LLC now owns 68,581 shares of the computer maker’s stock worth $1,226,000 after acquiring an additional 4,750 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of HP by 5.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 532,535 shares of the computer maker’s stock worth $9,522,000 after acquiring an additional 25,427 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of HP by 24.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,452 shares of the computer maker’s stock worth $133,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of HP by 27.2% during the first quarter. Swiss National Bank now owns 6,062,092 shares of the computer maker’s stock worth $108,390,000 after acquiring an additional 1,297,600 shares in the last quarter. 79.15% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on HPQ. UBS AG reissued a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. BidaskClub downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price objective on shares of HP in a research report on Thursday, August 24th. J P Morgan Chase & Co reissued a “neutral” rating and set a $19.50 price objective on shares of HP in a research report on Thursday, August 24th. Finally, Citigroup Inc. set a $20.00 price objective on shares of HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $20.57.
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In other news, Director Margaret C. Whitman sold 73,992 shares of the stock in a transaction dated 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 sale, the director now directly owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marie Myers sold 12,119 shares of the stock in a transaction dated Wednesday, June 28th. The stock was 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 directly owns 5,621 shares in the company, valued at $101,571.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,725,567 shares of company stock worth $32,210,686. Insiders own 0.62% of the company’s stock.
HP Inc. (NYSE HPQ) opened at 19.47 on Friday. HP Inc. has a 12-month low of $13.77 and a 12-month high of $19.78. The firm has a 50-day moving average of $19.16 and a 200 day moving average of $18.40. The company has a market capitalization of $32.52 billion, a price-to-earnings ratio of 14.15 and a beta of 1.93.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $12.31 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that HP Inc. will post $1.65 EPS for the current fiscal year.
The company also recently declared 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. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is 38.41%.
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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