NEXT Financial Group Inc decreased its stake in HP Inc. (NYSE:HPQ) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,835 shares of the computer maker’s stock after selling 1,098 shares during the period. NEXT Financial Group Inc’s holdings in HP were worth $189,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Trexquant Investment LP purchased a new stake in shares of HP during the first quarter worth about $833,000. ZWJ Investment Counsel Inc. acquired a new position in shares of HP during the first quarter valued at approximately $443,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after buying an additional 754,019 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after buying an additional 6,074 shares in the last quarter. Finally, American Beacon Advisors Inc. acquired a new position in shares of HP during the first quarter valued at approximately $112,000. 78.97% of the stock is currently owned by hedge funds and other institutional investors.
HP Inc. (NYSE HPQ) remained flat at $19.32 on Tuesday. The stock had a trading volume of 11,560,389 shares. HP Inc. has a one year low of $13.55 and a one year high of $19.58. The firm has a market cap of $32.52 billion, a PE ratio of 13.66 and a beta of 1.90. The company’s 50-day moving average price is $18.32 and its 200 day moving average price is $17.66.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the business earned $0.41 EPS. HP’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that HP Inc. will post $1.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is presently 37.32%.
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Several equities research analysts have recently issued reports on HPQ shares. UBS AG reaffirmed a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of HP in a research report on Thursday, May 25th. BidaskClub cut shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a “hold” rating and issued a $21.00 price target on shares of HP in a research report on Friday, July 14th. Citigroup Inc. set a $20.00 price objective on shares of HP and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $21.00 in a research note on Monday, July 10th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.89.
In related news, COO Jon E. Flaxman sold 35,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the transaction, the chief operating officer now owns 62,203 shares in the company, valued at $1,135,826.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total value of $8,576,534.40. Following the completion of the sale, the director now directly owns 692,849 shares in the company, valued at $13,385,842.68. The disclosure for this sale can be found here. In the last three months, insiders sold 1,748,815 shares of company stock valued at $32,623,560. 0.62% of the stock is currently owned by insiders.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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