Vanguard Personalized Indexing Management LLC grew its position in HP Inc. (NYSE:HPQ – Get Rating) by 23.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,878 shares of the computer maker's stock after buying an additional 12,670 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in HP were worth $2,159,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Certified Advisory Corp acquired a new stake in HP in the 1st quarter worth approximately $26,000. GHP Investment Advisors Inc. acquired a new stake in HP in the 2nd quarter worth approximately $26,000. Central Bank & Trust Co. boosted its stake in HP by 50.4% in the 2nd quarter. Central Bank & Trust Co. now owns 1,026 shares of the computer maker's stock worth $34,000 after purchasing an additional 344 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in HP by 272.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,095 shares of the computer maker's stock worth $40,000 after purchasing an additional 801 shares in the last quarter. Finally, Sandy Spring Bank boosted its stake in HP by 44.1% in the 2nd quarter. Sandy Spring Bank now owns 1,157 shares of the computer maker's stock worth $38,000 after purchasing an additional 354 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.
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Insiders Place Their Bets
In other HP news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.23, for a total transaction of $857,820.00. Following the sale, the chief executive officer now owns 517,204 shares of the company's stock, valued at approximately $13,049,056.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.22% of the stock is currently owned by corporate insiders.
HP Stock Performance
HP stock opened at $28.88 on Wednesday. The company's fifty day moving average price is $27.24 and its 200 day moving average price is $31.14. HP Inc. has a 1 year low of $24.08 and a 1 year high of $41.47. The stock has a market capitalization of $29.05 billion, a P/E ratio of 9.59, a P/E/G ratio of 3.14 and a beta of 0.99.
HP (NYSE:HPQ – Get Rating) last released its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. HP had a net margin of 5.09% and a negative return on equity of 181.32%. The firm had revenue of $14.80 billion for the quarter, compared to analysts' expectations of $14.68 billion. During the same quarter last year, the company earned $0.94 EPS. The firm's revenue for the quarter was down 11.2% compared to the same quarter last year. Sell-side analysts predict that HP Inc. will post 3.4 EPS for the current year.
HP Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 3.64%. The ex-dividend date is Tuesday, December 13th. This is a boost from HP's previous quarterly dividend of $0.25. HP's payout ratio is 33.22%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Credit Suisse Group lowered shares of HP from an "outperform" rating to a "neutral" rating and set a $33.00 price target for the company. in a research report on Friday, November 18th. StockNews.com assumed coverage on shares of HP in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Cowen reduced their price target on shares of HP from $38.00 to $30.00 and set a "market perform" rating for the company in a research report on Wednesday, August 31st. Loop Capital lowered shares of HP from a "buy" rating to a "hold" rating and reduced their price target for the stock from $50.00 to $29.00 in a research report on Thursday, September 1st. Finally, Wells Fargo & Company reduced their price target on shares of HP from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, August 31st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.67.
About HP
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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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