HP Inc (HPQ) Stake Decreased by Calamos Advisors LLC
Calamos Advisors LLC lowered its holdings in HP Inc (NYSE:HPQ) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,052 shares of the computer maker’s stock after selling 5,365 shares during the quarter. Calamos Advisors LLC’s holdings in HP were worth $5,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of HPQ. Boston Partners raised its stake in shares of HP by 45.9% in the third quarter. Boston Partners now owns 38,111,672 shares of the computer maker’s stock worth $760,709,000 after purchasing an additional 11,994,111 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of HP by 18,197.4% in the fourth quarter. Bessemer Group Inc. now owns 4,054,893 shares of the computer maker’s stock worth $85,194,000 after purchasing an additional 4,032,732 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of HP by 19.8% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 12,557,886 shares of the computer maker’s stock worth $212,366,000 after purchasing an additional 2,074,500 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of HP by 9.8% in the third quarter. Wells Fargo & Company MN now owns 15,902,375 shares of the computer maker’s stock worth $317,411,000 after purchasing an additional 1,415,318 shares during the last quarter. Finally, First Quadrant L P CA purchased a new position in shares of HP in the fourth quarter worth $27,335,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.
Several research firms have recently weighed in on HPQ. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. upgraded HP from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $22.13 to $28.00 in a research note on Monday, February 26th. Susquehanna Bancshares set a $22.00 price target on HP and gave the stock a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada reiterated a “buy” rating and set a $28.00 price objective on shares of HP in a research report on Friday, February 23rd. Finally, UBS Group reiterated a “buy” rating and set a $28.00 price objective (up previously from $26.00) on shares of HP in a research report on Friday, February 23rd. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. HP currently has a consensus rating of “Buy” and an average price target of $23.94.
HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 22nd. The computer maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $14.52 billion during the quarter, compared to analysts’ expectations of $13.47 billion. HP had a negative return on equity of 82.30% and a net margin of 7.15%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. sell-side analysts expect that HP Inc will post 1.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be given a $0.1393 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, March 13th. HP’s payout ratio is 34.36%.
In other news, insider Ron Coughlin sold 15,000 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $22.50, for a total value of $337,500.00. Following the completion of the transaction, the insider now owns 130,766 shares of the company’s stock, valued at $2,942,235. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Enrique Lores sold 302,893 shares of the company’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $23.31, for a total value of $7,060,435.83. Following the completion of the transaction, the insider now directly owns 88,901 shares of the company’s stock, valued at approximately $2,072,282.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 606,020 shares of company stock valued at $13,597,644. Company insiders own 0.62% of the company’s stock.
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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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