ProShare Advisors LLC increased its stake in shares of HP Inc. (NYSE:HPQ – Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 308,649 shares of the computer maker’s stock after purchasing an additional 48,150 shares during the quarter. ProShare Advisors LLC’s holdings in HP were worth $9,059,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of HPQ. Certified Advisory Corp bought a new position in HP during the 1st quarter valued at about $26,000. VitalStone Financial LLC bought a new position in HP in the 1st quarter valued at $38,000. GHP Investment Advisors Inc. bought a new position in HP in the 1st quarter valued at $29,000. HHM Wealth Advisors LLC grew its position in HP by 560.8% in the 1st quarter. HHM Wealth Advisors LLC now owns 1,249 shares of the computer maker’s stock valued at $37,000 after acquiring an additional 1,060 shares during the last quarter. Finally, Sandy Spring Bank grew its position in HP by 56.3% in the 4th quarter. Sandy Spring Bank now owns 1,255 shares of the computer maker’s stock valued at $34,000 after acquiring an additional 452 shares during the last quarter. Institutional investors own 76.04% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on HPQ shares. Barclays dropped their target price on shares of HP from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 30th. UBS Group upped their target price on shares of HP from $30.00 to $31.00 in a research note on Wednesday, May 31st. Bank of America dropped their price target on HP from $27.00 to $25.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 30th. Citigroup cut their price target on HP from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 30th. Finally, StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.73.
HP Trading Down 1.7 %
NYSE HPQ opened at $27.34 on Friday. The firm’s fifty day simple moving average is $31.50 and its two-hundred day simple moving average is $30.28. HP Inc. has a 12-month low of $24.08 and a 12-month high of $33.90. The firm has a market capitalization of $27.02 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.14 and a beta of 1.02.
HP (NYSE:HPQ – Get Free Report) last released its quarterly earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. HP had a net margin of 4.23% and a negative return on equity of 113.55%. The business had revenue of $13.20 billion for the quarter, compared to analyst estimates of $13.38 billion. During the same period in the previous year, the company earned $1.04 earnings per share. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, sell-side analysts predict that HP Inc. will post 3.3 earnings per share for the current fiscal year.
HP Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.2625 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.05 dividend on an annualized basis and a yield of 3.84%. HP’s payout ratio is 45.26%.
Insider Transactions at HP
In related news, major shareholder Berkshire Hathaway Inc sold 2,893,236 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $28.39, for a total value of $82,138,970.04. Following the transaction, the insider now directly owns 115,450,646 shares of the company’s stock, valued at approximately $3,277,643,839.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other HP news, major shareholder Berkshire Hathaway Inc sold 2,893,236 shares of HP stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $28.39, for a total transaction of $82,138,970.04. Following the completion of the sale, the insider now owns 115,450,646 shares of the company’s stock, valued at approximately $3,277,643,839.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Marie Myers sold 4,165 shares of HP stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $30.70, for a total transaction of $127,865.50. Following the sale, the chief financial officer now owns 30,611 shares of the company’s stock, valued at $939,757.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,030,824 shares of company stock worth $116,034,788. Company insiders own 0.32% of the company’s stock.
About HP
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.
Featured Articles
- Five stocks we like better than HP
- What is a SEC Filing?
- 5 Reasons Apple’s New Phone Moves the Needle: 5 That It Won’t
- Insider Trading – What You Need to Know
- MarketBeat Week in Review – 9/11 – 9/15
- Space Investment: How to Invest in Space Exploration
- China’s Jump In Car Sales Is Drawing Big Money To These Stocks
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ – Free Report).
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.
