Boys Arnold & Co. Inc. reduced its position in shares of HP Inc (NYSE:HPQ) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,993 shares of the computer maker’s stock after selling 1,709 shares during the period. Boys Arnold & Co. Inc.’s holdings in HP were worth $411,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HPQ. Itau Unibanco Holding S.A. purchased a new position in HP during the third quarter worth $106,000. FineMark National Bank & Trust increased its position in HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock worth $109,000 after buying an additional 168 shares in the last quarter. CWM LLC increased its position in HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new position in HP during the third quarter worth $120,000. Finally, Acrospire Investment Management LLC increased its position in HP by 9.6% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the computer maker’s stock worth $124,000 after buying an additional 700 shares in the last quarter. 78.94% of the stock is currently owned by institutional investors.
HP Inc (NYSE:HPQ) traded up 0.65% during trading on Thursday, reaching $18.50. The company’s stock had a trading volume of 4,878,239 shares. The firm has a market capitalization of $31.33 billion, a P/E ratio of 12.62 and a beta of 1.52. HP Inc has a one year low of $11.31 and a one year high of $18.61. The stock has a 50-day moving average of $17.55 and a 200 day moving average of $15.84.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 22nd. The computer maker reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The business earned $12.68 billion during the quarter, compared to analyst estimates of $11.82 billion. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. On average, equities research analysts predict that HP Inc will post $1.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 5th. Investors of record on Wednesday, March 8th were issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Monday, March 6th. HP’s dividend payout ratio is presently 37.32%.
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A number of research analysts have weighed in on HPQ shares. BMO Capital Markets increased their target price on HP to $17.00 in a report on Thursday, February 23rd. Brean Capital restated a “buy” rating and issued a $20.00 price target on shares of HP in a research report on Monday, January 23rd. FBN Securities upgraded HP from a “sector perform” rating to a “buy” rating and upped their price target for the stock from $15.00 to $19.00 in a research report on Thursday, February 23rd. Argus restated a “buy” rating and issued a $22.00 price target (up previously from $19.00) on shares of HP in a research report on Monday, February 27th. Finally, Citigroup Inc upgraded HP from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.54 to $20.00 in a research report on Wednesday, April 12th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. HP presently has a consensus rating of “Buy” and an average target price of $18.13.
In related news, insider Ron Coughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total value of $181,400.00. Following the transaction, the insider now directly owns 61,745 shares in the company, valued at $1,120,054.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tracy S. Keogh sold 113,582 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $17.43, for a total value of $1,979,734.26. Following the completion of the transaction, the insider now owns 96,926 shares in the company, valued at $1,689,420.18. The disclosure for this sale can be found here. Insiders sold 963,357 shares of company stock worth $17,005,974 over the last quarter. 0.51% 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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