King Luther Capital Management Corp Grows Stock Holdings in HP Inc. (NYSE:HPQ)

King Luther Capital Management Corp raised its position in shares of HP Inc. (NYSE:HPQGet Rating) by 21.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,064 shares of the computer maker’s stock after buying an additional 2,505 shares during the period. King Luther Capital Management Corp’s holdings in HP were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of HP by 0.6% during the first quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock worth $3,673,596,000 after buying an additional 573,468 shares during the period. State Street Corp raised its stake in shares of HP by 1.7% in the first quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after acquiring an additional 980,653 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of HP by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock valued at $486,668,000 after acquiring an additional 59,904 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of HP by 41.6% in the first quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock valued at $254,716,000 after acquiring an additional 2,061,479 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of HP by 9.3% in the first quarter. Swiss National Bank now owns 4,991,926 shares of the computer maker’s stock valued at $181,207,000 after acquiring an additional 426,000 shares in the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $25.23, for a total transaction of $857,820.00. Following the transaction, the chief executive officer now owns 517,204 shares of the company’s stock, valued at $13,049,056.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on HP from $28.00 to $24.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Citigroup reduced their price objective on HP from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, November 18th. UBS Group reduced their price objective on HP from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 31st. Bank of America cut their price target on HP from $30.00 to $27.00 and set an “underperform” rating on the stock in a research note on Friday, November 18th. Finally, Cowen cut their price target on HP from $38.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.71.

HP Stock Performance

Shares of HPQ stock opened at $29.91 on Thursday. The stock’s 50-day moving average is $27.02 and its two-hundred day moving average is $31.33. The firm has a market cap of $30.09 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 3.02 and a beta of 0.99. HP Inc. has a 1 year low of $24.08 and a 1 year high of $41.47.

HP (NYSE:HPQGet Rating) last released its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. HP had a negative return on equity of 196.62% and a net margin of 5.09%. The firm had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.68 billion. During the same quarter last year, the company posted $0.94 earnings per share. The business’s revenue was down 11.2% on a year-over-year basis. As a group, research analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from HP’s previous quarterly dividend of $0.25. HP’s dividend payout ratio (DPR) is currently 33.22%.

HP 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

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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