BlackRock Inc. lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,715,046 shares of the computer maker’s stock after selling 4,705,003 shares during the period. BlackRock Inc. owned about 6.62% of HP worth $2,073,077,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in HPQ. FMR LLC raised its position in shares of HP by 1.6% in the first quarter. FMR LLC now owns 20,390,859 shares of the computer maker’s stock valued at $396,194,000 after buying an additional 313,469 shares during the last quarter. Geode Capital Management LLC grew its holdings in HP by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 20,246,617 shares of the computer maker’s stock valued at $413,637,000 after purchasing an additional 385,515 shares during the period. AQR Capital Management LLC grew its holdings in HP by 44.2% in the first quarter. AQR Capital Management LLC now owns 18,796,913 shares of the computer maker’s stock valued at $362,686,000 after purchasing an additional 5,761,703 shares during the period. LSV Asset Management grew its holdings in HP by 8.1% in the first quarter. LSV Asset Management now owns 16,092,374 shares of the computer maker’s stock valued at $312,674,000 after purchasing an additional 1,199,670 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in HP by 2.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 11,469,669 shares of the computer maker’s stock valued at $238,454,000 after purchasing an additional 240,758 shares during the period. Institutional investors own 79.81% of the company’s stock.
A number of research firms recently issued reports on HPQ. Evercore ISI began coverage on shares of HP in a report on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 target price for the company. Sanford C. Bernstein downgraded shares of HP from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a report on Monday, September 9th. Citigroup set a $20.00 target price on shares of HP and gave the company a “hold” rating in a report on Friday, August 23rd. Barclays lowered their target price on shares of HP from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Finally, UBS Group lowered their target price on shares of HP from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.07.
HPQ opened at $19.08 on Friday. The company has a market cap of $27.79 billion, a P/E ratio of 8.64, a P/E/G ratio of 2.64 and a beta of 1.43. The company has a 50 day moving average of $19.26 and a two-hundred day moving average of $19.85. HP Inc. has a 52-week low of $17.10 and a 52-week high of $27.08.
HP (NYSE:HPQ) last announced its earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. The business had revenue of $14.60 billion during the quarter, compared to the consensus estimate of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, equities research analysts anticipate that HP Inc. will post 2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.64 annualized dividend and a dividend yield of 3.35%. HP’s dividend payout ratio (DPR) is presently 31.68%.
In other news, insider Dion J. Weisler sold 437,171 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $18.01, for a total value of $7,873,449.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Claire Bramley sold 16,852 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $20.81, for a total transaction of $350,690.12. Following the completion of the transaction, the insider now owns 16,852 shares of the company’s stock, valued at $350,690.12. The disclosure for this sale can be found here. Insiders sold 606,987 shares of company stock valued at $11,420,336 over the last 90 days. Insiders own 0.25% of the company’s stock.
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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