Occidental Asset Management LLC boosted its holdings in HP Inc. (NYSE:HPQ) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,808 shares of the computer maker’s stock after acquiring an additional 3,703 shares during the quarter. Occidental Asset Management LLC’s holdings in HP were worth $765,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TRUE Private Wealth Advisors acquired a new position in shares of HP during the 2nd quarter valued at $145,000. Jacobs & Co. CA grew its holdings in shares of HP by 5.5% in the 2nd quarter. Jacobs & Co. CA now owns 22,904 shares of the computer maker’s stock worth $476,000 after acquiring an additional 1,197 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of HP by 2.4% in the 2nd quarter. Advisory Services Network LLC now owns 37,765 shares of the computer maker’s stock worth $785,000 after acquiring an additional 893 shares during the last quarter. Coastal Investment Advisors Inc. grew its holdings in shares of HP by 343.7% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 9,291 shares of the computer maker’s stock worth $190,000 after acquiring an additional 7,197 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of HP by 26.7% in the 2nd quarter. CWM LLC now owns 6,998 shares of the computer maker’s stock worth $145,000 after acquiring an additional 1,476 shares during the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.
In related news, insider Claire Bramley sold 15,819 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.00, for a total transaction of $316,380.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shumeet Banerji sold 28,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.00, for a total value of $560,000.00. Following the transaction, the director now owns 31,311 shares in the company, valued at $626,220. The disclosure for this sale can be found here. Insiders have sold 213,635 shares of company stock worth $4,423,266 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.
HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, May 23rd. The computer maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $14.04 billion for the quarter, compared to analyst estimates of $13.97 billion. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, analysts forecast that HP Inc. will post 2.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.45%. HP’s payout ratio is presently 31.68%.
HPQ has been the topic of a number of recent research reports. Zacks Investment Research upgraded HP from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. ValuEngine cut HP from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barclays began coverage on HP in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $21.00 target price for the company. Deutsche Bank began coverage on HP in a research report on Wednesday, June 19th. They issued a “hold” rating and a $20.00 target price for the company. Finally, Evercore ISI began coverage on HP in a research report on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.24.
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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