Neuberger Berman Group LLC Has $4.88 Million Position in HP Inc. (HPQ)
Neuberger Berman Group LLC raised its position in shares of HP Inc. (NYSE:HPQ) by 31.2% during the first quarter, Holdings Channel reports. The fund owned 272,826 shares of the computer maker’s stock after buying an additional 64,805 shares during the period. Neuberger Berman Group LLC’s holdings in HP were worth $4,878,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in HPQ. Dodge & Cox acquired a new stake in HP during the fourth quarter worth $2,073,164,000. Norges Bank acquired a new stake in HP during the fourth quarter worth $225,623,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in HP during the fourth quarter worth $145,193,000. Arrowstreet Capital Limited Partnership acquired a new stake in HP during the fourth quarter worth $143,429,000. Finally, DnB Asset Management AS increased its stake in HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock worth $70,430,000 after buying an additional 3,443,455 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.
HP Inc. (NYSE HPQ) opened at 17.35 on Friday. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 12.27 and a beta of 1.76. HP Inc. has a one year low of $11.48 and a one year high of $19.58. The stock’s 50 day moving average is $18.68 and its 200 day moving average is $16.92.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, analysts predict that HP Inc. will post $1.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be paid a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, June 12th. HP’s payout ratio is 37.32%.
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HPQ has been the subject of a number of analyst reports. Vetr downgraded shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price target for the company. in a research report on Monday, June 5th. Citigroup Inc. raised shares of HP from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.54 to $20.00 in a research note on Wednesday, April 12th. Royal Bank Of Canada lifted their price objective on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research note on Thursday, May 25th. Barclays PLC raised shares of HP from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $14.00 price objective on shares of HP in a research note on Friday, May 26th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $19.08.
In other news, CFO Catherine A. Lesjak sold 120,000 shares of HP stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total transaction of $2,176,800.00. Following the sale, the chief financial officer now owns 120,000 shares of the company’s stock, valued at approximately $2,176,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Catherine A. Lesjak sold 719,775 shares of HP stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $17.60, for a total transaction of $12,668,040.00. Following the sale, the chief financial officer now directly owns 599,775 shares in the company, valued at approximately $10,556,040. The disclosure for this sale can be found here. Insiders have sold a total of 1,015,159 shares of company stock worth $18,142,136 in the last ninety days. Insiders own 0.62% of the company’s stock.
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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