Capital Investment Advisors LLC Sells 459 Shares of HP Inc. (NYSE:HPQ)

Capital Investment Advisors LLC trimmed its position in shares of HP Inc. (NYSE:HPQGet Rating) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,226 shares of the computer maker’s stock after selling 459 shares during the period. Capital Investment Advisors LLC’s holdings in HP were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HPQ. Central Bank & Trust Co. purchased a new position in HP during the first quarter valued at $25,000. Certified Advisory Corp purchased a new position in HP during the first quarter valued at $26,000. Blue Bell Private Wealth Management LLC grew its stake in HP by 175.4% during the first quarter. Blue Bell Private Wealth Management LLC now owns 917 shares of the computer maker’s stock valued at $33,000 after acquiring an additional 584 shares in the last quarter. Cyrus J. Lawrence LLC purchased a new position in HP during the first quarter valued at $35,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in HP by 272.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,095 shares of the computer maker’s stock valued at $40,000 after acquiring an additional 801 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

HP Price Performance

Shares of HPQ opened at $27.23 on Monday. HP Inc. has a 1-year low of $26.11 and a 1-year high of $41.47. The company has a 50-day moving average of $31.58 and a 200 day moving average of $34.73. The firm has a market capitalization of $27.39 billion, a price-to-earnings ratio of 4.76, a PEG ratio of 2.44 and a beta of 0.96.

HP (NYSE:HPQGet Rating) last announced its quarterly earnings data on Tuesday, August 30th. The computer maker reported $1.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.04. HP had a net margin of 9.72% and a negative return on equity of 220.16%. The company had revenue of $14.66 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post 4.09 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. HP’s dividend payout ratio is currently 17.48%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cowen cut their target price on shares of HP from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, August 31st. Morgan Stanley dropped their price objective on shares of HP from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Barclays dropped their price objective on shares of HP from $32.00 to $27.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Wells Fargo & Company dropped their price objective on shares of HP from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Finally, UBS Group dropped their price objective on shares of HP from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, HP currently has an average rating of “Hold” and an average price target of $31.50.

Insider Activity

In other news, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $147,015.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares in the company, valued at approximately $588,060. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the transaction, the chief executive officer now owns 551,204 shares in the company, valued at approximately $18,007,834.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $32.67, for a total transaction of $147,015.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $588,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,000 shares of company stock worth $1,406,520. 0.22% of the stock is currently owned by corporate insiders.

HP Company Profile

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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.

See Also

Institutional Ownership by Quarter for HP (NYSE:HPQ)

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