Guggenheim Capital LLC cut its stake in shares of HP Inc. (NYSE:HPQ – Free Report) by 40.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,598 shares of the computer maker’s stock after selling 46,468 shares during the period. Guggenheim Capital LLC’s holdings in HP were worth $2,013,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Morgan Stanley increased its holdings in shares of HP by 22.5% during the fourth quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock worth $393,364,000 after buying an additional 2,686,976 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in HP by 114,461.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after purchasing an additional 11,528,558 shares during the period. Amundi increased its holdings in HP by 9.1% in the fourth quarter. Amundi now owns 7,306,874 shares of the computer maker’s stock valued at $201,531,000 after purchasing an additional 611,977 shares during the period. Maj Invest Holding A S increased its holdings in HP by 5.7% in the first quarter. Maj Invest Holding A S now owns 6,919,644 shares of the computer maker’s stock valued at $203,093,000 after purchasing an additional 372,478 shares during the period. Finally, Norges Bank acquired a new stake in HP in the fourth quarter valued at $151,025,000. 76.04% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on HPQ shares. 58.com restated a “maintains” rating on shares of HP in a report on Wednesday, May 31st. Bank of America cut their price target on shares of HP from $27.00 to $25.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of HP from $32.00 to $30.00 in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of HP from $40.00 to $39.00 in a research report on Wednesday. Finally, StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.75.
Insider Buying and Selling at HP
In other HP news, CEO Enrique Lores sold 156,976 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $30.69, for a total value of $4,817,593.44. Following the completion of the sale, the chief executive officer now owns 766,268 shares in the company, valued at approximately $23,516,764.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Alex Cho sold 22,490 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $30.50, for a total transaction of $685,945.00. Following the completion of the sale, the insider now owns 22,003 shares in the company, valued at approximately $671,091.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Enrique Lores sold 156,976 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $30.69, for a total transaction of $4,817,593.44. Following the sale, the chief executive officer now owns 766,268 shares of the company’s stock, valued at approximately $23,516,764.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,455 shares of company stock worth $5,986,805. Insiders own 0.32% of the company’s stock.
HP Price Performance
HPQ opened at $29.29 on Thursday. HP Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $33.90. The firm has a market capitalization of $28.88 billion, a PE ratio of 11.09, a P/E/G ratio of 2.34 and a beta of 1.01. The company’s 50-day moving average is $31.76 and its 200 day moving average is $30.32.
HP (NYSE:HPQ – Get Free Report) last posted its quarterly earnings data on Tuesday, August 29th. The computer maker reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. The firm had revenue of $13.20 billion during the quarter, compared to analyst estimates of $13.38 billion. HP had a net margin of 4.75% and a negative return on equity of 121.57%. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. As a group, analysts expect that HP Inc. will post 3.35 EPS for the current year.
HP Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a $0.2625 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.05 annualized dividend and a yield of 3.58%. HP’s dividend payout ratio (DPR) is 39.77%.
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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