Thornburg Investment Management Inc. lowered its stake in shares of HP Inc. (NYSE:HPQ) by 23.2% during the fourth quarter, Holdings Channel reports. The fund owned 1,749,989 shares of the computer maker’s stock after selling 529,480 shares during the period. Thornburg Investment Management Inc. owned about 0.10% of HP worth $25,970,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of HPQ. IFP Advisors Inc increased its position in shares of HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock valued at $284,000 after buying an additional 72 shares during the last quarter. Thompson Investment Management Inc. increased its position in shares of HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock valued at $510,000 after buying an additional 120 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of HP by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 54,120 shares of the computer maker’s stock valued at $840,000 after buying an additional 150 shares during the last quarter. FineMark National Bank & Trust increased its position in shares of HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock valued at $109,000 after buying an additional 168 shares during the last quarter. Finally, Conning Inc. increased its position in shares of HP by 0.4% in the third quarter. Conning Inc. now owns 44,375 shares of the computer maker’s stock valued at $689,000 after buying an additional 190 shares during the last quarter. Institutional investors own 78.94% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) traded down 0.911% on Friday, reaching $15.775. 4,445,052 shares of the company’s stock were exchanged. The firm has a market capitalization of $26.90 billion, a P/E ratio of 11.016 and a beta of 1.52. The firm has a 50 day moving average of $15.12 and a 200 day moving average of $14.95. HP Inc. has a one year low of $9.95 and a one year high of $16.41.
HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The firm earned $12.50 billion during the quarter, compared to analysts’ expectations of $11.89 billion. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 earnings per share. On average, equities research analysts predict that HP Inc. will post $1.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 8th will be issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, March 6th. HP’s dividend payout ratio (DPR) is currently 37.32%.
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Several brokerages recently commented on HPQ. Argus reiterated a “buy” rating and set a $15.15 price target (down from $19.00) on shares of HP in a report on Wednesday, November 30th. Vetr upgraded shares of HP from a “buy” rating to a “strong-buy” rating and set a $17.76 price target on the stock in a report on Monday, November 28th. Wells Fargo & Company reiterated an “outperform” rating and set a $14.50 price target on shares of HP in a report on Wednesday, November 23rd. Mizuho reissued a “neutral” rating and issued a $14.00 price objective on shares of HP in a research report on Tuesday, January 24th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $16.00 price objective on shares of HP in a research report on Friday, December 9th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. HP presently has an average rating of “Hold” and a consensus target price of $15.91.
In related news, insider Ron Coughlin sold 113,503 shares of HP stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $15.78, for a total value of $1,791,077.34. Following the completion of the transaction, the insider now owns 169,288 shares in the company, valued at $2,671,364.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $225,387.00. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
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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