HP Inc. (NYSE:HPQ) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp increased its stake in shares of HP Inc. (NYSE:HPQGet Rating) by 21.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,064 shares of the computer maker’s stock after purchasing an additional 2,505 shares during the period. King Luther Capital Management Corp’s holdings in HP were worth $461,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its holdings in HP by 41.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock valued at $254,716,000 after acquiring an additional 2,061,479 shares during the last quarter. State Street Corp raised its holdings in HP by 1.7% in the 1st quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after acquiring an additional 980,653 shares during the last quarter. Bank of Montreal Can raised its holdings in HP by 1,041.3% in the 2nd quarter. Bank of Montreal Can now owns 768,463 shares of the computer maker’s stock valued at $30,468,000 after acquiring an additional 850,104 shares during the last quarter. Ergoteles LLC raised its holdings in HP by 197.4% in the 1st quarter. Ergoteles LLC now owns 1,097,094 shares of the computer maker’s stock valued at $39,825,000 after acquiring an additional 728,257 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in HP by 0.6% in the 1st quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock valued at $3,673,596,000 after acquiring an additional 573,468 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HPQ shares. Barclays cut their price target on HP from $27.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday. Loop Capital cut shares of HP from a “buy” rating to a “hold” rating and lowered their price objective for the company from $50.00 to $29.00 in a research note on Thursday, September 1st. Sanford C. Bernstein lowered their price objective on shares of HP from $40.00 to $30.00 in a research note on Tuesday, September 20th. Morgan Stanley lowered their price objective on shares of HP from $28.00 to $24.00 and set an “underweight” rating for the company in a research note on Monday, October 17th. Finally, Credit Suisse Group cut shares of HP from an “outperform” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Friday, November 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.71.

HP Trading Up 1.8 %

Shares of HP stock opened at $29.91 on Thursday. The company has a fifty day moving average price of $27.02 and a 200 day moving average price of $31.33. HP Inc. has a twelve month low of $24.08 and a twelve month high of $41.47. The stock has a market cap of $30.09 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 3.02 and a beta of 0.99.

HP (NYSE:HPQGet Rating) last announced its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. HP had a net margin of 5.09% and a negative return on equity of 196.62%. The firm had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $14.68 billion. During the same period in the prior year, the company earned $0.94 EPS. The firm’s revenue was down 11.2% on a year-over-year basis. Analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.51%. This is a positive change from HP’s previous quarterly dividend of $0.25. HP’s payout ratio is currently 33.22%.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.23, for a total value of $857,820.00. Following the transaction, the chief executive officer now owns 517,204 shares in the company, valued at approximately $13,049,056.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by company insiders.

HP Company Profile

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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.

See Also

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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