Airain ltd Has $4.57 Million Stake in HP Inc. (HPQ)
Airain ltd boosted its position in HP Inc. (NYSE:HPQ) by 146.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 261,487 shares of the computer maker’s stock after buying an additional 155,584 shares during the period. Airain ltd’s holdings in HP were worth $4,571,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new position in HP during the first quarter valued at approximately $112,000. YorkBridge Wealth Partners LLC boosted its position in 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 during the last quarter. First Command Bank boosted its position in 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 during the last quarter. TrimTabs Asset Management LLC boosted its position in 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 during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in 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 during the last quarter. Institutional investors and hedge funds own 78.50% of the company’s stock.
Shares of HP Inc. (NYSE HPQ) opened at 19.31 on Monday. The firm’s 50-day moving average is $18.86 and its 200-day moving average is $18.09. The company has a market cap of $32.46 billion, a price-to-earnings ratio of 14.03 and a beta of 1.90. HP Inc. has a one year low of $13.77 and a one year high of $19.78.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. During the same period last year, the company earned $0.48 EPS. HP’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts expect that HP Inc. will post $1.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.75%. HP’s payout ratio is 38.41%.
HPQ has been the subject of several research analyst reports. Bank of America Corporation upped their target price on shares of HP from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. UBS AG reiterated a “buy” rating and set a $22.00 target price (up from $20.00) on shares of HP in a research note on Thursday, May 25th. Credit Suisse Group reiterated a “buy” rating and set a $19.00 target price on shares of HP in a research note on Tuesday, May 23rd. Citigroup Inc. set a $20.00 target price on shares of HP and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $21.00 in a research note on Monday, July 10th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $20.53.
In related news, Director Margaret C. Whitman sold 73,992 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the transaction, the director now directly owns 544,881 shares in the company, valued at approximately $9,655,291.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 443,920 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total value of $8,576,534.40. Following the transaction, the director now owns 692,849 shares in the company, valued at $13,385,842.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,713,815 shares of company stock worth $31,984,460. 0.62% of the stock is owned by corporate insiders.
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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