Deroy & Devereaux Private Investment Counsel Inc. raised its stake in HP Inc. (NYSE:HPQ) by 1.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 656,747 shares of the computer maker’s stock after purchasing an additional 9,323 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in HP were worth $14,902,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in HPQ. FDx Advisors Inc. lifted its position in HP by 18.5% in the first quarter. FDx Advisors Inc. now owns 95,621 shares of the computer maker’s stock valued at $2,096,000 after purchasing an additional 14,954 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of HP by 52.6% during the first quarter. Daiwa Securities Group Inc. now owns 78,262 shares of the computer maker’s stock worth $1,715,000 after purchasing an additional 26,976 shares in the last quarter. Weybosset Research & Management LLC purchased a new stake in shares of HP during the first quarter worth about $6,370,000. Fulton Bank N.A. grew its position in shares of HP by 30.1% during the first quarter. Fulton Bank N.A. now owns 57,565 shares of the computer maker’s stock worth $1,262,000 after purchasing an additional 13,312 shares in the last quarter. Finally, Hanson McClain Inc. grew its position in shares of HP by 17.8% during the first quarter. Hanson McClain Inc. now owns 20,106 shares of the computer maker’s stock worth $441,000 after purchasing an additional 3,043 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.
In other news, insider Tracy S. Keogh sold 117,275 shares of HP stock in a transaction on Monday, June 11th. The stock was sold at an average price of $24.00, for a total value of $2,814,600.00. Following the transaction, the insider now directly owns 243,526 shares in the company, valued at approximately $5,844,624. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marie Myers sold 8,470 shares of HP stock in a transaction on Friday, June 29th. The shares were sold at an average price of $22.85, for a total value of $193,539.50. Following the completion of the transaction, the insider now owns 8,470 shares in the company, valued at $193,539.50. The disclosure for this sale can be found here. Insiders have sold a total of 243,021 shares of company stock worth $5,705,488 over the last 90 days. 0.25% of the stock is currently owned by company insiders.
HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, May 29th. The computer maker reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $14.00 million for the quarter, compared to the consensus estimate of $13.57 billion. HP had a negative return on equity of 99.90% and a net margin of 7.84%. HP’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. equities analysts anticipate that HP Inc. will post 2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 12th will be issued a dividend of $0.1393 per share. The ex-dividend date is Tuesday, September 11th. This represents a $0.56 annualized dividend and a yield of 2.42%. HP’s payout ratio is currently 33.94%.
Several equities analysts have weighed in on HPQ shares. Morgan Stanley raised their price target on HP from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, May 30th. ValuEngine lowered HP from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 25th. JPMorgan Chase & Co. set a $28.00 price objective on HP and gave the company a “buy” rating in a research note on Wednesday, May 30th. Finally, BMO Capital Markets decreased their price target on HP to $22.00 and set a “market perform” rating for the company in a research note on Wednesday, May 30th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.47.
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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