Cipher Capital LP Boosts Stake in HP Inc (HPQ)

Cipher Capital LP raised its position in HP Inc (NYSE:HPQ) by 173.1% during the first quarter, Holdings Channel reports. The firm owned 93,774 shares of the computer maker’s stock after buying an additional 59,431 shares during the period. Cipher Capital LP’s holdings in HP were worth $1,677,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in HPQ. Garde Capital Inc. raised its position in shares of HP by 8.0% in the third quarter. Garde Capital Inc. now owns 48,875 shares of the computer maker’s stock worth $1,252,000 after buying an additional 3,600 shares during the period. OMERS ADMINISTRATION Corp raised its position in shares of HP by 62.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 618,000 shares of the computer maker’s stock worth $9,598,000 after buying an additional 237,100 shares during the period. AMP Capital Investors Ltd raised its position in shares of HP by 34.6% in the third quarter. AMP Capital Investors Ltd now owns 2,313,218 shares of the computer maker’s stock worth $35,602,000 after buying an additional 594,024 shares during the period. Haverford Trust Co. raised its position in shares of HP by 3.8% in the fourth quarter. Haverford Trust Co. now owns 27,559 shares of the computer maker’s stock worth $409,000 after buying an additional 1,009 shares during the period. Finally, Private Advisor Group LLC raised its position in shares of HP by 84.1% in the fourth quarter. Private Advisor Group LLC now owns 56,590 shares of the computer maker’s stock worth $845,000 after buying an additional 25,843 shares during the period. Institutional investors and hedge funds own 78.94% of the company’s stock.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

HP Inc (NYSE:HPQ) traded down 2.63% during mid-day trading on Friday, reaching $17.80. The company’s stock had a trading volume of 16,228,672 shares. HP Inc has a 1-year low of $11.48 and a 1-year high of $19.58. The firm has a market capitalization of $29.96 billion, a price-to-earnings ratio of 12.59 and a beta of 1.52. The firm has a 50-day moving average of $18.83 and a 200 day moving average of $16.85.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the business posted $0.41 earnings per share. HP’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that HP Inc will post $1.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be issued a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Monday, June 12th. HP’s dividend payout ratio is 37.32%.

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HPQ has been the topic of a number of analyst reports. Credit Suisse Group AG reiterated a “buy” rating and issued a $19.00 price objective on shares of HP in a research report on Tuesday, May 23rd. BMO Capital Markets lifted their price objective on shares of HP from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 25th. Citigroup Inc set a $20.00 price objective on shares of HP and gave the company a “buy” rating in a research report on Thursday, May 25th. Vetr lowered shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price objective on the stock. in a research report on Monday, June 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $20.00 price objective (up from $18.00) on shares of HP in a research report on Friday, May 19th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $19.08.

In related news, insider Ron Coughlin sold 10,000 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total value of $181,400.00. Following the completion of the sale, the insider now directly owns 61,745 shares of the company’s stock, valued at approximately $1,120,054.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Catherine A. Lesjak sold 719,775 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $17.60, for a total value of $12,668,040.00. Following the completion of the sale, the chief financial officer now directly owns 599,775 shares of the company’s stock, valued at $10,556,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,015,159 shares of company stock valued at $18,142,136. 0.51% of the stock is currently owned by company insiders.

HP Company Profile

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “HPQ”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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