Shelton Capital Management decreased its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 90.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,323 shares of the computer maker’s stock after selling 102,999 shares during the period. Shelton Capital Management’s holdings in HP were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC grew its position in HP by 18.5% in the first quarter. ProShare Advisors LLC now owns 308,649 shares of the computer maker’s stock worth $9,059,000 after buying an additional 48,150 shares during the last quarter. Csenge Advisory Group purchased a new stake in shares of HP during the second quarter valued at $382,000. Banco Santander S.A. increased its stake in HP by 10.2% in the 1st quarter. Banco Santander S.A. now owns 11,908 shares of the computer maker’s stock worth $350,000 after purchasing an additional 1,100 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in HP by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,172,980 shares of the computer maker’s stock worth $386,619,000 after buying an additional 48,539 shares during the period. Finally, Motco lifted its stake in HP by 84.4% during the second quarter. Motco now owns 1,038 shares of the computer maker’s stock valued at $32,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
Analyst Ratings Changes
HPQ has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of HP from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, August 30th. Edward Jones raised HP from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Evercore ISI reissued an “in-line” rating and issued a $33.00 price objective on shares of HP in a research note on Monday. Barclays lowered their target price on HP from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 30th. Finally, Bank of America raised shares of HP from an “underperform” rating to a “buy” rating and increased their price target for the stock from $25.00 to $33.00 in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, HP currently has an average rating of “Moderate Buy” and a consensus price target of $30.82.
HP Stock Down 1.1 %
HPQ stock opened at $27.99 on Tuesday. The company has a market capitalization of $27.66 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 2.35 and a beta of 1.04. The firm has a 50 day moving average of $26.84 and a two-hundred day moving average of $29.56. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90.
HP (NYSE:HPQ – Get Free Report) last posted its earnings results on Tuesday, August 29th. The computer maker reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. HP had a net margin of 4.23% and a negative return on equity of 113.55%. The firm had revenue of $13.20 billion for the quarter, compared to the consensus estimate of $13.38 billion. During the same period in the prior year, the business posted $1.04 earnings per share. The business’s quarterly revenue was down 9.9% on a year-over-year basis. On average, research analysts expect that HP Inc. will post 3.3 EPS for the current fiscal year.
HP Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.2756 per share. The ex-dividend date is Tuesday, December 12th. This represents a $1.10 dividend on an annualized basis and a yield of 3.94%. This is a boost from HP’s previous quarterly dividend of $0.26. HP’s dividend payout ratio is presently 45.26%.
Insider Buying and Selling at HP
In related news, CFO Marie Myers sold 4,165 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.00, for a total transaction of $124,950.00. Following the completion of the sale, the chief financial officer now directly owns 22,281 shares of the company’s stock, valued at approximately $668,430. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Berkshire Hathaway Inc sold 1,352,264 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $25.69, for a total value of $34,739,662.16. Following the sale, the insider now owns 106,047,751 shares in the company, valued at $2,724,366,723.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Marie Myers sold 4,165 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.00, for a total transaction of $124,950.00. Following the transaction, the chief financial officer now owns 22,281 shares of the company’s stock, valued at $668,430. The disclosure for this sale can be found here. Insiders have sold a total of 14,457,179 shares of company stock worth $388,231,371 over the last 90 days. Insiders own 0.32% of the company’s stock.
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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