Glenview Trust Co purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 736,857 shares of the computer maker’s stock, valued at approximately $10,935,000.
A number of other hedge funds have also recently added to or reduced their stakes in HPQ. Principal Financial Group Inc. increased its position in HP by 119.5% in the third quarter. Principal Financial Group Inc. now owns 5,152,764 shares of the computer maker’s stock valued at $80,022,000 after buying an additional 2,805,123 shares during the last quarter. Wells Fargo & Company MN increased its position in HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock valued at $181,420,000 after buying an additional 2,614,757 shares during the last quarter. Russell Investments Group Ltd. bought a new position in HP during the fourth quarter valued at about $36,410,000. Bank of New York Mellon Corp increased its position in HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock valued at $442,517,000 after buying an additional 2,403,888 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in HP during the third quarter valued at about $27,441,000. Institutional investors own 78.94% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) traded down 0.88% during midday trading on Friday, hitting $15.78. 4,446,386 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $15.12 and its 200 day moving average price is $14.95. HP Inc. has a one year low of $9.95 and a one year high of $16.41. The firm has a market cap of $26.91 billion, a PE ratio of 11.02 and a beta of 1.52.
HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The business earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that HP Inc. will post $1.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be given a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Monday, March 6th. HP’s dividend payout ratio (DPR) is presently 37.32%.
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Several equities analysts have issued reports on the stock. Mizuho reaffirmed a “neutral” rating and set a $14.00 price objective on shares of HP in a report on Tuesday, January 24th. Argus reaffirmed a “buy” rating and set a $15.15 price objective (down from $19.00) on shares of HP in a report on Wednesday, November 30th. Jefferies Group LLC decreased their price objective on shares of HP from $16.75 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 24th. Brean Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of HP in a report on Monday, January 23rd. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of HP in a report on Friday, December 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. HP presently has a consensus rating of “Hold” and an average target price of $15.91.
In other HP news, insider Kim M. Rivera sold 14,220 shares of HP stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $15.85, for a total value of $225,387.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ron Coughlin sold 113,503 shares of HP stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $15.78, for a total transaction of $1,791,077.34. Following the completion of the sale, the insider now directly owns 169,288 shares of the company’s stock, valued at approximately $2,671,364.64. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
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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