Victory Capital Management Inc. raised its stake in shares of HP Inc (NYSE:HPQ) by 6.3% during the fourth quarter, Holdings Channel reports. The fund owned 584,715 shares of the computer maker’s stock after acquiring an additional 34,803 shares during the quarter. Victory Capital Management Inc.’s holdings in HP were worth $12,285,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. San Francisco Sentry Investment Group CA boosted its stake in HP by 188.3% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 8,057 shares of the computer maker’s stock valued at $161,000 after acquiring an additional 5,262 shares during the last quarter. Advisory Services Network LLC boosted its stake in HP by 9.8% during the 2nd quarter. Advisory Services Network LLC now owns 9,217 shares of the computer maker’s stock valued at $161,000 after acquiring an additional 824 shares during the last quarter. Dean Capital Investments Management LLC bought a new position in HP during the 4th quarter valued at $211,000. Ferguson Wellman Capital Management Inc. bought a new position in HP during the 4th quarter valued at $215,000. Finally, New England Investment & Retirement Group Inc. bought a new position in HP during the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 81.08% of the company’s stock.
A number of research analysts have commented on HPQ shares. Maxim Group reiterated a “hold” rating and set a $25.00 price objective on shares of HP in a research note on Friday, October 27th. Royal Bank of Canada raised their price target on shares of HP from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Morgan Stanley restated a “hold” rating and issued a $14.00 price target on shares of HP in a research report on Wednesday, November 22nd. Mizuho downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Thursday, February 1st. They noted that the move was a valuation call. Finally, Deutsche Bank restated a “buy” rating and issued a $25.00 price target on shares of HP in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. HP presently has a consensus rating of “Hold” and an average target price of $22.83.
HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.36 billion. HP had a net margin of 4.85% and a negative return on equity of 70.25%. HP’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. equities analysts predict that HP Inc will post 1.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 14th will be given a $0.1393 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $0.56 annualized dividend and a yield of 2.62%. HP’s dividend payout ratio is presently 37.84%.
In other HP news, insider Marie Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $21.55, for a total transaction of $215,500.00. Following the transaction, the insider now owns 21,966 shares of the company’s stock, valued at approximately $473,367.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jon E. Flaxman sold 271,968 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $21.34, for a total transaction of $5,803,797.12. Following the transaction, the chief operating officer now directly owns 243,096 shares in the company, valued at approximately $5,187,668.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 902,988 shares of company stock worth $19,938,441. 0.62% of the stock is currently owned by insiders.
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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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