HP Inc. (NYSE:HPQ) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its stake in HP Inc. (NYSE:HPQ) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 255,655 shares of the computer maker’s stock after selling 9,332 shares during the quarter. Calamos Advisors LLC’s holdings in HP were worth $8,953,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. AMG National Trust Bank lifted its holdings in HP by 45.4% during the 2nd quarter. AMG National Trust Bank now owns 14,550 shares of the computer maker’s stock worth $510,000 after buying an additional 4,540 shares during the last quarter. Wade Financial Advisory Inc bought a new position in HP during the second quarter worth $246,000. Banque Pictet & Cie SA lifted its stake in HP by 48.6% during the second quarter. Banque Pictet & Cie SA now owns 287,895 shares of the computer maker’s stock worth $10,082,000 after purchasing an additional 94,194 shares during the last quarter. Premier Path Wealth Partners LLC increased its stake in HP by 10.7% during the second quarter. Premier Path Wealth Partners LLC now owns 8,106 shares of the computer maker’s stock valued at $284,000 after purchasing an additional 785 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of HP during the second quarter worth $202,000. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HPQ. TD Cowen lifted their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Bank of America raised their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their price objective on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. UBS Group raised their price target on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Barclays upped their price objective on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.00.

Insiders Place Their Bets

In related news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ traded up $0.58 during midday trading on Friday, hitting $35.66. 6,319,665 shares of the stock were exchanged, compared to its average volume of 7,792,394. The business’s fifty day simple moving average is $35.56 and its two-hundred day simple moving average is $32.24. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The company has a market capitalization of $34.90 billion, a PE ratio of 12.05, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. As a group, equities analysts anticipate that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.09%. HP’s dividend payout ratio is 37.16%.

HP 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.