Meyer Handelman Co. lowered its position in shares of HP Inc. (NYSE:HPQ) by 21.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,914 shares of the computer maker’s stock after selling 72,500 shares during the period. Meyer Handelman Co.’s holdings in HP were worth $5,177,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in HP by 1.2% during the fourth quarter. BlackRock Inc. now owns 107,109,970 shares of the computer maker’s stock valued at $2,191,471,000 after purchasing an additional 1,310,551 shares during the last quarter. Boston Partners lifted its position in HP by 5.4% during the fourth quarter. Boston Partners now owns 43,404,835 shares of the computer maker’s stock valued at $888,063,000 after purchasing an additional 2,215,865 shares during the last quarter. Deutsche Bank AG lifted its position in HP by 8.9% during the fourth quarter. Deutsche Bank AG now owns 33,764,593 shares of the computer maker’s stock valued at $690,814,000 after purchasing an additional 2,745,820 shares during the last quarter. Northern Trust Corp lifted its position in HP by 6.0% during the fourth quarter. Northern Trust Corp now owns 21,931,335 shares of the computer maker’s stock valued at $448,715,000 after purchasing an additional 1,238,071 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in HP by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 20,246,617 shares of the computer maker’s stock valued at $413,637,000 after purchasing an additional 385,515 shares during the last quarter. 78.48% of the stock is owned by institutional investors.
NYSE:HPQ traded up $0.84 during midday trading on Friday, reaching $20.03. 13,341,329 shares of the stock traded hands, compared to its average volume of 11,411,852. HP Inc. has a 12 month low of $18.06 and a 12 month high of $27.08. The firm has a market capitalization of $29.81 billion, a P/E ratio of 9.92, a P/E/G ratio of 3.22 and a beta of 1.38.
HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, May 23rd. The computer maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. HP had a net margin of 7.15% and a negative return on equity of 216.97%. The company had revenue of $14.04 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the business posted $0.48 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Research analysts predict that HP Inc. will post 2.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 12th will be issued a dividend of $0.1602 per share. The ex-dividend date is Tuesday, June 11th. This represents a $0.64 dividend on an annualized basis and a yield of 3.20%. HP’s dividend payout ratio is currently 31.68%.
HPQ has been the subject of several research analyst reports. Bank of America lowered shares of HP from a “buy” rating to an “underperform” rating and set a $19.00 target price for the company. in a research report on Thursday, February 28th. ValuEngine lowered shares of HP from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. BMO Capital Markets lowered their price objective on shares of HP from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, February 28th. Credit Suisse Group assumed coverage on shares of HP in a report on Thursday, April 11th. They issued a “neutral” rating and a $21.00 price objective for the company. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of HP in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. HP currently has a consensus rating of “Hold” and an average price target of $25.40.
In related news, CEO Dion J. Weisler sold 36,799 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.00, for a total transaction of $735,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.
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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