HP Inc. (NYSE:HPQ) Holdings Trimmed by Toronto Dominion Bank
Toronto Dominion Bank trimmed its position in shares of HP Inc. (NYSE:HPQ) by 18.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 889,644 shares of the computer maker’s stock after selling 197,987 shares during the period. Toronto Dominion Bank’s holdings in HP were worth $18,491,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HPQ. Geode Capital Management LLC grew its position in HP by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 20,246,617 shares of the computer maker’s stock worth $413,637,000 after purchasing an additional 385,515 shares in the last quarter. Gamco Investors INC. ET AL grew its position in HP by 51.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 62,079 shares of the computer maker’s stock worth $1,206,000 after purchasing an additional 21,100 shares in the last quarter. Cornerstone Advisors Inc. grew its position in HP by 87.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 8,087 shares of the computer maker’s stock worth $157,000 after purchasing an additional 3,768 shares in the last quarter. Victory Capital Management Inc. grew its position in HP by 176.3% during the 1st quarter. Victory Capital Management Inc. now owns 503,380 shares of the computer maker’s stock worth $9,781,000 after purchasing an additional 321,165 shares in the last quarter. Finally, Stephens Inc. AR grew its position in HP by 22.1% during the 1st quarter. Stephens Inc. AR now owns 56,186 shares of the computer maker’s stock worth $1,092,000 after purchasing an additional 10,180 shares in the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.
Several research firms have weighed in on HPQ. Sanford C. Bernstein cut shares of HP from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a research report on Monday. Bank of America lowered their price target on shares of HP from $19.00 to $17.00 and set an “underperform” rating on the stock in a report on Friday, August 23rd. Deutsche Bank began coverage on shares of HP in a report on Wednesday, June 19th. They set a “hold” rating and a $20.00 price target on the stock. Morgan Stanley lowered their price target on shares of HP from $23.00 to $21.00 and set a “weight” rating on the stock in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. set a $19.00 price target on shares of HP and gave the company a “hold” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.07.
HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The business had revenue of $14.60 billion during the quarter, compared to analyst estimates of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. HP’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. Equities analysts expect that HP Inc. will post 2.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, September 10th. HP’s dividend payout ratio is 31.68%.
In other HP news, CEO Dion J. Weisler sold 132,964 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $20.95, for a total transaction of $2,785,595.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Claire Bramley sold 16,852 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $20.81, for a total transaction of $350,690.12. Following the transaction, the insider now directly owns 16,852 shares of the company’s stock, valued at approximately $350,690.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 606,987 shares of company stock valued at $11,420,336. Company insiders own 0.25% of the company’s stock.
HP Company Profile
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.
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