HP Inc. (HPQ) Shares Sold by Glenview Trust Co
Glenview Trust Co lowered its stake in HP Inc. (NYSE:HPQ) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 697,555 shares of the computer maker’s stock after selling 14,993 shares during the quarter. HP comprises about 0.9% of Glenview Trust Co’s portfolio, making the stock its 28th biggest holding. Glenview Trust Co’s holdings in HP were worth $12,194,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of HPQ. Bronfman E.L. Rothschild L.P. lifted its holdings in HP by 19.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after purchasing an additional 1,013 shares during the period. American Beacon Advisors Inc. acquired a new stake in HP in the first quarter worth about $112,000. First Command Bank lifted its holdings in 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 purchasing an additional 2,984 shares during the period. TrimTabs Asset Management LLC lifted its holdings in 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 purchasing an additional 3,264 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in 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 purchasing an additional 996 shares during the period. 79.18% of the stock is owned by institutional investors and hedge funds.
HP Inc. (HPQ) traded up 0.86% on Friday, reaching $19.94. The company’s stock had a trading volume of 6,778,176 shares. HP Inc. has a 12 month low of $13.77 and a 12 month high of $19.95. The company has a market cap of $33.30 billion, a P/E ratio of 14.49 and a beta of 1.93. The company has a 50-day moving average price of $19.18 and a 200 day moving average price of $18.44.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. HP’s revenue was up 9.8% on a year-over-year basis. On average, equities research 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 issued a dividend of $0.1327 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.66%. HP’s dividend payout ratio (DPR) is currently 38.41%.
A number of brokerages have weighed in on HPQ. FBN Securities reissued an “outperform” rating and issued a $23.00 price target (up from $19.00) on shares of HP in a report on Sunday, May 28th. Deutsche Bank AG reissued a “buy” rating on shares of HP in a report on Thursday, August 24th. 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. Mizuho raised shares of HP from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $21.00 in a report on Monday, July 10th. Finally, BidaskClub raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Ten equities research 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. HP has a consensus rating of “Buy” and an average target price of $20.57.
In other HP news, insider Marie Myers sold 10,025 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $19.75, for a total value of $197,993.75. Following the completion of the transaction, the insider now owns 10,025 shares of the company’s stock, valued at approximately $197,993.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total value of $4,297,145.60. Following the completion of the transaction, the director now directly 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 have sold a total of 1,597,633 shares of company stock valued at $29,983,371 in the last three months. 0.62% of the stock is owned by insiders.
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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