Scotia Capital Inc. purchased a new position in HP Inc (NYSE:HPQ) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 25,255 shares of the computer maker’s stock, valued at approximately $531,000.
Several other institutional investors also recently bought and sold shares of the company. Peddock Capital Advisors LLC boosted its holdings in shares of HP by 5.1% in the third quarter. Peddock Capital Advisors LLC now owns 48,975 shares of the computer maker’s stock worth $978,000 after acquiring an additional 2,374 shares during the period. Robecosam AG boosted its holdings in shares of HP by 12.6% in the third quarter. Robecosam AG now owns 21,400 shares of the computer maker’s stock worth $427,000 after acquiring an additional 2,400 shares during the period. MAI Capital Management boosted its holdings in shares of HP by 22.5% in the fourth quarter. MAI Capital Management now owns 14,171 shares of the computer maker’s stock worth $298,000 after acquiring an additional 2,604 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of HP by 38.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 9,434 shares of the computer maker’s stock worth $198,000 after acquiring an additional 2,624 shares during the period. Finally, Cambria Investment Management L.P. boosted its holdings in shares of HP by 6.3% in the third quarter. Cambria Investment Management L.P. now owns 46,502 shares of the computer maker’s stock worth $928,000 after acquiring an additional 2,769 shares during the period. 80.59% of the stock is owned by hedge funds and other institutional investors.
In other HP news, insider Marie Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $21.55, for a total transaction of $215,500.00. Following the sale, the insider now owns 21,966 shares in the company, valued at $473,367.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shumeet Banerji sold 35,686 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $21.50, for a total value of $767,249.00. Following the sale, the director now owns 28,000 shares in the company, valued at approximately $602,000. The disclosure for this sale can be found here. Insiders have sold 606,020 shares of company stock worth $13,597,644 in the last 90 days. Company insiders own 0.25% of the company’s stock.
HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 22nd. The computer maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.06. HP had a negative return on equity of 82.30% and a net margin of 7.15%. The business had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. equities research analysts forecast that HP Inc will post 1.93 EPS for the current fiscal year.
The company 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 dividend of $0.1393 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.26%. HP’s payout ratio is 24.45%.
A number of equities analysts have recently commented on the company. Maxim Group reaffirmed a “hold” rating and issued a $25.00 price target on shares of HP in a report on Wednesday, November 22nd. Loop Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of HP in a report on Wednesday, November 22nd. Deutsche Bank raised their price target on HP from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. UBS Group reaffirmed a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of HP in a report on Friday, February 23rd. Finally, Susquehanna Bancshares set a $22.00 price target on HP and gave the stock a “hold” rating in a report on Friday, February 23rd. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $23.94.
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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