Prudential Financial Inc. reduced its position in HP Inc. (NYSE:HPQ) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,630,125 shares of the computer maker’s stock after selling 826,070 shares during the quarter. Prudential Financial Inc. owned about 0.64% of HP worth $212,177,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of HP by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 123,633,569 shares of the computer maker’s stock worth $2,161,114,000 after buying an additional 1,945,965 shares during the period. BlackRock Inc. raised its position in shares of HP by 2.5% in the 2nd quarter. BlackRock Inc. now owns 108,599,783 shares of the computer maker’s stock worth $1,898,325,000 after buying an additional 2,608,983 shares during the period. Boston Partners raised its position in shares of HP by 304.9% in the 2nd quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares during the period. Wells Fargo & Company MN raised its position in shares of HP by 26.3% in the 2nd quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after buying an additional 3,017,182 shares during the period. Finally, APG Asset Management N.V. raised its position in shares of HP by 8.5% in the 3rd quarter. APG Asset Management N.V. now owns 11,356,293 shares of the computer maker’s stock worth $226,672,000 after buying an additional 891,900 shares during the period. 80.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of HP Inc. (NYSE HPQ) opened at $21.34 on Thursday. HP Inc. has a twelve month low of $14.40 and a twelve month high of $22.68. The company has a market capitalization of $37,513.90, a P/E ratio of 13.61, a P/E/G ratio of 3.32 and a beta of 1.85. The company has a current ratio of 0.97, a quick ratio of 0.74 and a debt-to-equity ratio of -1.55.
HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 21st. The computer maker reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $13.93 billion for the quarter, compared to analysts’ expectations of $13.36 billion. HP had a negative return on equity of 66.91% and a net margin of 4.85%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. analysts expect that HP Inc. will post 1.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be issued a $0.1393 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.56 annualized dividend and a dividend yield of 2.61%. This is a boost from HP’s previous quarterly dividend of $0.13. HP’s dividend payout ratio is currently 35.57%.
In other HP news, insider Kim M. Rivera sold 41,761 shares of HP stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $21.28, for a total transaction of $888,674.08. Following the transaction, the insider now directly owns 84,799 shares in the company, valued at approximately $1,804,522.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dion J. Weisler sold 731,502 shares of HP stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the transaction, the insider now owns 435,018 shares in the company, valued at $8,687,309.46. The disclosure for this sale can be found here. Insiders sold 1,853,937 shares of company stock worth $37,905,548 in the last ninety days. 0.62% of the stock is owned by corporate insiders.
Several research analysts have commented on the company. Maxim Group reissued a “hold” rating and issued a $25.00 price objective on shares of HP in a research report on Wednesday. BMO Capital Markets raised their price objective on HP to $23.00 and gave the company a “positive” rating in a research report on Wednesday. Deutsche Bank AG reissued a “buy” rating and issued a $25.00 price objective on shares of HP in a research report on Wednesday. Royal Bank Of Canada raised their price objective on HP from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Finally, Wells Fargo & Company assumed coverage on HP in a research report on Tuesday, November 14th. They issued a “market perform” rating and a $21.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. HP has an average rating of “Buy” and a consensus target price of $21.79.
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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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