HP Inc. (HPQ) Position Decreased by Bank of Hawaii
Bank of Hawaii cut its holdings in shares of HP Inc. (NYSE:HPQ) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,462 shares of the computer maker’s stock after selling 2,056 shares during the quarter. Bank of Hawaii’s holdings in HP were worth $1,970,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of HPQ. DNB Asset Management AS increased its holdings in shares of HP by 251.5% during the 3rd quarter. DNB Asset Management AS now owns 4,944,443 shares of the computer maker’s stock worth $127,418,000 after acquiring an additional 3,537,963 shares during the last quarter. Boston Partners increased its holdings in shares of HP by 7.3% during the 2nd quarter. Boston Partners now owns 38,822,978 shares of the computer maker’s stock worth $880,893,000 after acquiring an additional 2,637,787 shares during the last quarter. Natixis increased its holdings in shares of HP by 8,339.5% during the 2nd quarter. Natixis now owns 2,528,982 shares of the computer maker’s stock worth $57,383,000 after acquiring an additional 2,499,016 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of HP during the 2nd quarter worth approximately $40,308,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of HP during the 2nd quarter worth approximately $31,924,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on HPQ. BMO Capital Markets reaffirmed a “hold” rating and issued a $22.00 price objective on shares of HP in a report on Thursday, October 4th. JPMorgan Chase & Co. lowered HP from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $28.00 to $29.00 in a report on Friday, October 5th. Susquehanna Bancshares set a $25.00 price objective on HP and gave the company a “hold” rating in a report on Thursday, October 4th. UBS Group upped their price objective on HP from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Finally, Bank of America upped their price objective on HP from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.44.
Shares of NYSE HPQ opened at $22.66 on Thursday. HP Inc. has a one year low of $19.31 and a one year high of $27.08. The firm has a market capitalization of $35.78 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.45 and a beta of 1.50.
HP (NYSE:HPQ) last released its earnings results on Thursday, August 23rd. The computer maker reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $14.29 billion. HP had a negative return on equity of 130.47% and a net margin of 7.95%. HP’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 EPS. Equities research analysts predict that HP Inc. will post 2.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Thursday, December 13th will be issued a dividend of $0.1602 per share. This is a positive change from HP’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, December 12th. HP’s dividend payout ratio is 33.94%.
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HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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