TRUE Private Wealth Advisors acquired a new stake in HP Inc. (NYSE:HPQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,954 shares of the computer maker’s stock, valued at approximately $145,000.
A number of other institutional investors have also made changes to their positions in HPQ. Icon Wealth Partners LLC bought a new position in HP in the 1st quarter valued at $27,000. First Personal Financial Services grew its position in HP by 101.9% in the 1st quarter. First Personal Financial Services now owns 1,621 shares of the computer maker’s stock valued at $31,000 after acquiring an additional 818 shares during the last quarter. Rational Advisors LLC grew its position in HP by 1,557.8% in the 1st quarter. Rational Advisors LLC now owns 1,923 shares of the computer maker’s stock valued at $37,000 after acquiring an additional 1,807 shares during the last quarter. Coastal Capital Group Inc. bought a new position in HP in the 2nd quarter valued at $39,000. Finally, Berman Capital Advisors LLC grew its position in HP by 378.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after acquiring an additional 1,609 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors.
Shares of NYSE HPQ traded down $0.56 during mid-day trading on Thursday, reaching $18.72. 206,586 shares of the company were exchanged, compared to its average volume of 7,506,140. The firm has a market capitalization of $28.54 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.40. HP Inc. has a 1 year low of $18.06 and a 1 year high of $27.08. The business has a 50-day simple moving average of $20.74.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, September 10th. HP’s dividend payout ratio (DPR) is currently 31.68%.
In other HP news, insider Claire Bramley sold 15,819 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $316,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dion J. Weisler sold 132,964 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $20.95, for a total value of $2,785,595.80. The disclosure for this sale can be found here. Insiders have sold a total of 213,635 shares of company stock valued at $4,423,266 over the last 90 days. 0.25% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on HPQ. Deutsche Bank began coverage on HP in a research report on Wednesday, June 19th. They set a “hold” rating and a $20.00 price target on the stock. Morgan Stanley increased their price target on HP from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, May 24th. Evercore ISI began coverage on HP in a research report on Wednesday, June 5th. They set an “outperform” rating and a $23.00 price target on the stock. ValuEngine downgraded HP from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised HP from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average 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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