Virtu Financial LLC lowered its position in HP Inc. (NYSE:HPQ) by 25.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 23,416 shares of the computer maker’s stock after selling 7,882 shares during the period. Virtu Financial LLC’s holdings in HP were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Neo Ivy Capital Management lifted its stake in HP by 1,803.3% in the third quarter. Neo Ivy Capital Management now owns 67,150 shares of the computer maker’s stock valued at $1,228,000 after buying an additional 63,622 shares during the last quarter. MUFG Americas Holdings Corp lifted its stake in HP by 3.7% in the third quarter. MUFG Americas Holdings Corp now owns 42,024 shares of the computer maker’s stock valued at $795,000 after buying an additional 1,515 shares during the last quarter. AE Wealth Management LLC lifted its stake in HP by 18.8% in the third quarter. AE Wealth Management LLC now owns 57,276 shares of the computer maker’s stock valued at $1,084,000 after buying an additional 9,080 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in HP by 21.0% in the third quarter. Vestmark Advisory Solutions Inc. now owns 20,739 shares of the computer maker’s stock valued at $392,000 after buying an additional 3,602 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in HP by 1,847.2% in the third quarter. Tower Research Capital LLC TRC now owns 83,809 shares of the computer maker’s stock valued at $1,586,000 after buying an additional 79,505 shares during the last quarter. Institutional investors own 83.06% of the company’s stock.
HPQ has been the subject of several analyst reports. JPMorgan Chase & Co. set a $19.00 price target on HP and gave the stock a “hold” rating in a research note on Friday, August 23rd. Bank of America cut their price target on HP from $17.00 to $16.00 and set an “underperform” rating for the company in a research note on Friday, October 4th. Sanford C. Bernstein cut HP from an “outperform” rating to a “market perform” rating and set a $20.00 price target for the company. in a research note on Monday, September 9th. Evercore ISI upgraded HP from an “in-line” rating to an “outperform” rating and set a $24.00 price target for the company in a research note on Monday, November 11th. Finally, Wells Fargo & Co restated a “hold” rating on shares of HP in a research note on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. HP has a consensus rating of “Hold” and an average price target of $19.91.
HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.29 billion. HP had a negative return on equity of 241.43% and a net margin of 5.36%. HP’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. Sell-side analysts anticipate that HP Inc. will post 2.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a $0.176 dividend. This is a boost from HP’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, December 10th. This represents a $0.70 annualized dividend and a yield of 3.55%. HP’s dividend payout ratio is presently 28.57%.
In other HP news, insider Christoph Schell sold 60,121 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $20.17, for a total value of $1,212,640.57. Following the completion of the transaction, the insider now owns 179,029 shares in the company, valued at $3,611,014.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.
HP Company Profile
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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