Algert Global LLC increased its position in HP Inc. (NYSE:HPQ) by 58.1% during the third quarter, Holdings Channel reports. The firm owned 87,846 shares of the computer maker’s stock after buying an additional 32,299 shares during the period. Algert Global LLC’s holdings in HP were worth $1,364,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of HPQ. Emerald Acquisition Ltd. bought a new position in HP during the second quarter worth approximately $26,430,000. Geode Capital Management LLC raised its position in HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock worth $185,720,000 after buying an additional 799,445 shares during the period. PineBridge Investments L.P. raised its position in HP by 333.7% in the second quarter. PineBridge Investments L.P. now owns 414,298 shares of the computer maker’s stock worth $5,199,000 after buying an additional 318,772 shares during the period. Canada Pension Plan Investment Board raised its position in HP by 21.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,459,365 shares of the computer maker’s stock worth $18,315,000 after buying an additional 261,510 shares during the period. Finally, Victory Capital Management Inc. raised its position in HP by 90.4% in the second quarter. Victory Capital Management Inc. now owns 293,655 shares of the computer maker’s stock worth $3,686,000 after buying an additional 139,443 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.
HP Inc. (NYSE:HPQ) opened at 15.15 on Friday. The stock has a market cap of $25.92 billion, a P/E ratio of 8.07 and a beta of 1.55. The company has a 50-day moving average price of $14.90 and a 200 day moving average price of $13.46. HP Inc. has a 1-year low of $8.91 and a 1-year high of $15.88.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. HP had a net margin of 5.41% and a return on equity of 106.26%. The business earned $11.89 billion during the quarter, compared to the consensus estimate of $11.44 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities analysts expect that HP Inc. will post $1.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th were paid a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, September 12th. HP’s dividend payout ratio is 26.74%.
A number of equities analysts have commented on HPQ shares. Credit Suisse Group AG restated a “buy” rating and set a $19.00 price objective on shares of HP in a research note on Sunday, October 9th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $14.00 target price (up previously from $12.00) on shares of HP in a report on Monday, August 22nd. Morgan Stanley reaffirmed a “buy” rating on shares of HP in a report on Tuesday, September 13th. Citigroup Inc. raised their target price on HP from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday. Finally, Royal Bank Of Canada raised their target price on HP from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday. Eighteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.23.
In other HP news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the insider now owns 213,582 shares of the company’s stock, valued at $2,990,148. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the transaction, the insider now directly owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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