UBS Asset Management Americas Inc. increased its stake in shares of HP Inc. (NYSE:HPQ) by 1.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 6,404,846 shares of the computer maker’s stock after buying an additional 64,322 shares during the period. UBS Asset Management Americas Inc.’s holdings in HP were worth $99,468,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Cedar Wealth Management LLC boosted its stake in shares of HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock valued at $131,000 after buying an additional 220 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new position in HP during the third quarter worth about $140,000. Integrated Wealth Management boosted its position in HP by 3.4% in the third quarter. Integrated Wealth Management now owns 9,236 shares of the computer maker’s stock worth $143,000 after buying an additional 304 shares during the last quarter. Advisory Services Network LLC boosted its position in HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock worth $145,000 after buying an additional 807 shares during the last quarter. Finally, First National Trust Co. acquired a new position in HP during the third quarter worth about $158,000. Institutional investors and hedge funds own 76.75% of the company’s stock.
Shares of HP Inc. (NYSE:HPQ) opened at 15.08 on Tuesday. The firm has a 50 day moving average price of $14.93 and a 200 day moving average price of $14.09. HP Inc. has a 12-month low of $8.91 and a 12-month high of $16.19. The stock has a market cap of $25.80 billion, a PE ratio of 8.03 and a beta of 1.53.
HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The company earned $12.50 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, equities analysts expect that HP Inc. will post $1.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be given a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, December 12th. This is a boost from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio is 35.21%.
A number of equities analysts have issued reports on HPQ shares. Citigroup Inc. increased their price target on HP from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, August 25th. Credit Suisse Group AG restated a “buy” rating and set a $19.00 price target on shares of HP in a report on Friday, August 12th. Mizuho restated a “neutral” rating and set a $12.00 price target on shares of HP in a report on Thursday, August 25th. BMO Capital Markets increased their price target on HP from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Thursday, August 25th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $14.00 price target on shares of HP in a report on Tuesday, September 13th. Fifteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.84.
In related news, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now owns 213,582 shares in the company, valued at $3,203,730. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company’s stock.
HP Company Profile
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.