HP Inc. (HPQ) Stake Increased by Utah Retirement Systems
Utah Retirement Systems raised its position in shares of HP Inc. (NYSE:HPQ) by 0.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 316,135 shares of the computer maker’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in HP were worth $4,909,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock worth $181,420,000 after buying an additional 2,614,757 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock valued at $442,517,000 after buying an additional 2,403,888 shares during the period. Emerald Acquisition Ltd. purchased a new stake in HP during the second quarter valued at $26,430,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in HP by 9,398.3% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 1,633,714 shares of the computer maker’s stock valued at $25,162,000 after buying an additional 1,616,514 shares during the period. Finally, APG Asset Management N.V. boosted its stake in HP by 26.3% in the third quarter. APG Asset Management N.V. now owns 7,092,434 shares of the computer maker’s stock valued at $110,146,000 after buying an additional 1,478,333 shares during the period. Institutional investors own 76.75% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) traded up 1.65% during mid-day trading on Wednesday, hitting $15.40. 15,933,215 shares of the stock traded hands. The firm’s 50 day moving average price is $14.93 and its 200-day moving average price is $14.09. HP Inc. has a 12-month low of $8.91 and a 12-month high of $16.19. The stock has a market cap of $26.36 billion, a P/E ratio of 10.75 and a beta of 1.53.
HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The business earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. HP had a net margin of 5.17% and a negative return on equity of 61.38%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. Analysts predict that HP Inc. will post $1.60 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be paid a $0.1327 dividend. The ex-dividend date is Monday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a dividend yield of 3.45%. HP’s dividend payout ratio is 35.21%.
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HPQ has been the subject of several analyst reports. Citigroup Inc. increased their price target on shares of HP from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, August 25th. Credit Suisse Group AG reissued a “buy” rating and issued a $19.00 price target on shares of HP in a research note on Friday, August 12th. Mizuho reissued a “neutral” rating and issued a $12.00 price target on shares of HP in a research note on Thursday, August 25th. Argus reissued a “buy” rating and issued a $15.15 price target (down previously from $19.00) on shares of HP in a research note on Wednesday. Finally, BMO Capital Markets increased their price target on shares of HP from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Thursday, August 25th. Fifteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. HP currently has a consensus rating of “Hold” and an average target price of $15.64.
In other news, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 213,582 shares in the company, valued at $3,203,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by insiders.
HP Company Profile
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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