Penserra Capital Management LLC increased its stake in shares of HP Inc. (NYSE:HPQ) by 99.9% during the third quarter, Holdings Channel reports. The institutional investor owned 12,461 shares of the computer maker’s stock after buying an additional 6,228 shares during the period. Penserra Capital Management LLC’s holdings in HP were worth $193,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in HPQ. Wealthsource Partners LLC increased its position in HP by 15.5% in the second quarter. Wealthsource Partners LLC now owns 16,390 shares of the computer maker’s stock valued at $206,000 after buying an additional 2,196 shares in the last quarter. Assetmark Inc. increased its position in HP by 7.0% in the second quarter. Assetmark Inc. now owns 62,341 shares of the computer maker’s stock valued at $782,000 after buying an additional 4,058 shares in the last quarter. Flippin Bruce & Porter Inc. increased its position in HP by 6.3% in the second quarter. Flippin Bruce & Porter Inc. now owns 370,701 shares of the computer maker’s stock valued at $4,652,000 after buying an additional 21,915 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in HP during the second quarter valued at $26,430,000. Finally, Thompson Investment Management Inc. increased its position in 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 in the last quarter. 79.49% of the stock is currently owned by hedge funds and other institutional investors.
HP Inc. (NYSE:HPQ) traded up 2.08% during mid-day trading on Friday, reaching $15.18. The company had a trading volume of 8,675,484 shares. The company has a market capitalization of $25.97 billion, a price-to-earnings ratio of 8.08 and a beta of 1.53. HP Inc. has a 12 month low of $8.91 and a 12 month high of $16.19. The firm’s 50 day moving average price is $14.98 and its 200-day moving average price is $14.00.
HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. HP’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. Equities research analysts anticipate that HP Inc. will post $1.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.57%. This is an increase from HP’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, December 12th. HP’s payout ratio is 35.21%.
Several research firms have recently weighed in on HPQ. Vetr downgraded HP from a “strong-buy” rating to a “buy” rating and set a $17.76 target price on the stock. in a research report on Tuesday, November 15th. Jefferies Group downgraded HP from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays PLC reaffirmed a “hold” rating and issued a $15.00 price objective on shares of HP in a research report on Wednesday. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $19.00 price objective on shares of HP in a research report on Sunday, October 9th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $16.00 price objective (up previously from $14.00) on shares of HP in a research report on Monday, October 10th. Fifteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.73.
In other HP news, insider Marie Myers sold 10,269 shares of HP stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the completion of the sale, the insider now directly owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total value of $1,500,000.00. Following the sale, the insider now directly owns 213,582 shares of the company’s stock, valued at $3,203,730. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.