HP Inc. (HPQ) Stake Raised by Advisor Group Inc.
Advisor Group Inc. grew its stake in HP Inc. (NYSE:HPQ) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 167,691 shares of the computer maker’s stock after purchasing an additional 17,502 shares during the quarter. Advisor Group Inc.’s holdings in HP were worth $2,869,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of HPQ. Bronfman E.L. Rothschild L.P. raised its stake in shares of HP by 19.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after purchasing an additional 1,013 shares in the last quarter. American Beacon Advisors Inc. acquired a new stake in shares of HP in the 1st quarter valued at about $112,000. First Command Bank raised its stake in shares of HP by 80.0% in the 2nd quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after purchasing an additional 2,984 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of HP by 88.9% in the 1st quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after purchasing an additional 3,264 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of HP by 15.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock valued at $130,000 after purchasing an additional 996 shares in the last quarter. Institutional investors and hedge funds own 79.18% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Susquehanna Bancshares Inc restated a “hold” rating and issued a $20.00 target price on shares of HP in a research note on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price objective (up previously from $19.00) on shares of HP in a research report on Tuesday, September 5th. Royal Bank Of Canada raised shares of HP from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $21.00 to $22.00 in a research report on Thursday, July 20th. BidaskClub downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, Maxim Group reaffirmed a “hold” rating and set a $22.00 price objective (up previously from $21.00) on shares of HP in a research 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 issued a strong buy rating to the company’s stock. HP currently has a consensus rating of “Buy” and a consensus target price of $20.57.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is presently 38.41%.
In other news, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the completion of the sale, the director now owns 692,849 shares in the company, valued at approximately $13,385,842.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Margaret C. Whitman sold 295,952 shares of HP stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $18.02, for a total transaction of $5,333,055.04. Following the sale, the director now owns 618,865 shares of the company’s stock, valued at approximately $11,151,947.30. The disclosure for this sale can be found here. Insiders sold a total of 1,449,665 shares of company stock valued at $27,319,947 in the last 90 days. Corporate 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.
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