People s United Financial Inc. reduced its holdings in HP Inc. (NYSE:HPQ) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,790 shares of the computer maker’s stock after selling 4,595 shares during the period. People s United Financial Inc.’s holdings in HP were worth $1,541,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of HPQ. CSat Investment Advisory L.P. acquired a new stake in HP in the second quarter valued at approximately $113,000. Capital Advisors Ltd. LLC grew its holdings in HP by 6,530.8% in the third quarter. Capital Advisors Ltd. LLC now owns 7,095 shares of the computer maker’s stock valued at $183,000 after purchasing an additional 6,988 shares during the period. United Capital Management of KS Inc. acquired a new stake in HP in the third quarter valued at approximately $201,000. Segall Bryant & Hamill LLC purchased a new position in shares of HP in the second quarter valued at approximately $203,000. Finally, Truvestments Capital LLC purchased a new position in shares of HP in the second quarter valued at approximately $204,000. 78.94% of the stock is currently owned by institutional investors.
Shares of HP stock opened at $22.93 on Friday. HP Inc. has a one year low of $19.31 and a one year high of $27.08. The company has a market cap of $38.01 billion, a P/E ratio of 11.35, a P/E/G ratio of 2.33 and a beta of 1.45.
HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, November 29th. The computer maker reported $0.54 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.54. HP had a negative return on equity of 188.62% and a net margin of 9.11%. The firm had revenue of $15.37 billion for the quarter, compared to the consensus estimate of $15.13 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts forecast that HP Inc. will post 2.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Thursday, December 13th will be given a dividend of $0.1602 per share. This is an increase from HP’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, December 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.79%. HP’s dividend payout ratio (DPR) is presently 27.72%.
Several research firms have recently weighed in on HPQ. BMO Capital Markets restated a “hold” rating and issued a $22.00 target price on shares of HP in a research report on Thursday, October 4th. Susquehanna Bancshares set a $24.00 target price on HP and gave the company a “hold” rating in a research report on Friday, August 24th. Citigroup raised their target price on HP to $30.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Morgan Stanley decreased their target price on HP from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 4th. Finally, Bank of America raised their target price on HP from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, October 4th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. HP presently has a consensus rating of “Hold” and a consensus target price of $27.25.
In related news, insider Dion J. Weisler sold 86,389 shares of HP stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $24.80, for a total transaction of $2,142,447.20. Following the transaction, the insider now owns 815,945 shares in the company, valued at $20,235,436. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Catherine A. Lesjak sold 693,594 shares of HP stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $25.78, for a total value of $17,880,853.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 829,934 shares of company stock worth $21,227,333. 0.25% of the stock is currently owned by company insiders.
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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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