HP Inc. (HPQ) Position Reduced by GAM Holding AG
GAM Holding AG decreased its stake in shares of HP Inc. (NYSE:HPQ) by 79.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,281 shares of the computer maker’s stock after selling 798,953 shares during the period. GAM Holding AG’s holdings in HP were worth $3,553,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter valued at about $112,000. YorkBridge Wealth Partners LLC raised its position in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares in the last quarter. First Command Bank raised its position in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares in the last quarter. TrimTabs Asset Management LLC raised its position in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after buying an additional 3,264 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of HP by 15.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock valued at $130,000 after buying an additional 996 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.
HP Inc. (NYSE:HPQ) opened at 19.31 on Friday. The stock has a market cap of $32.46 billion, a P/E ratio of 14.03 and a beta of 1.90. HP Inc. has a 52-week low of $13.77 and a 52-week high of $19.78. The stock has a 50 day moving average price of $18.86 and a 200 day moving average price of $18.09.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that HP Inc. will post $1.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio is 38.41%.
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A number of research analysts have recently weighed in on HPQ shares. UBS AG reissued a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of HP in a report on Thursday, May 25th. BidaskClub lowered HP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 price objective on shares of HP in a report on Thursday. Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 price objective on shares of HP in a report on Thursday. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $19.50 price objective on shares of HP in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. HP presently has an average rating of “Buy” and a consensus target price of $20.53.
In related news, insider Marie Myers sold 12,119 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total value of $218,990.33. Following the completion of the transaction, the insider now owns 5,621 shares of the company’s stock, valued at approximately $101,571.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 221,960 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the transaction, the director now directly owns 692,849 shares of the company’s stock, valued at approximately $13,413,556.64. The disclosure for this sale can be found here. Insiders sold a total of 1,713,815 shares of company stock valued at $31,984,460 in the last ninety days. Company insiders own 0.62% of the company’s stock.
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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