HP Inc. (HPQ) Position Increased by QUANTRES ASSET MANAGEMENT Ltd

QUANTRES ASSET MANAGEMENT Ltd raised its position in shares of HP Inc. (NYSE:HPQ) by 115.8% during the first quarter, Holdings Channel reports. The institutional investor owned 127,300 shares of the computer maker’s stock after buying an additional 68,300 shares during the period. HP accounts for approximately 1.5% of QUANTRES ASSET MANAGEMENT Ltd’s portfolio, making the stock its 11th largest position. QUANTRES ASSET MANAGEMENT Ltd’s holdings in HP were worth $2,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Trexquant Investment LP acquired a new position in shares of HP during the first quarter worth approximately $833,000. ZWJ Investment Counsel Inc. acquired a new position in shares of HP during the first quarter worth approximately $443,000. Cornerstone Capital Management Holdings LLC. increased its position in shares of HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock worth $26,145,000 after buying an additional 754,019 shares in the last quarter. Cipher Capital LP increased its position in shares of HP by 173.1% in the first quarter. Cipher Capital LP now owns 93,774 shares of the computer maker’s stock worth $1,677,000 after buying an additional 59,431 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of HP by 24.5% in the first quarter. Pacer Advisors Inc. now owns 87,442 shares of the computer maker’s stock worth $1,563,000 after buying an additional 17,234 shares in the last quarter. 80.37% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

Shares of HP Inc. (NYSE HPQ) traded down 0.45% during mid-day trading on Thursday, hitting $17.63. The stock had a trading volume of 1,680,149 shares. The stock’s 50-day moving average price is $18.61 and its 200-day moving average price is $16.99. HP Inc. has a 12-month low of $11.48 and a 12-month high of $19.58. The stock has a market capitalization of $29.68 billion, a price-to-earnings ratio of 12.47 and a beta of 1.76.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post $1.63 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be paid a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, June 12th. HP’s payout ratio is presently 37.32%.

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HPQ has been the subject of a number of analyst reports. Barclays PLC increased their price target on HP from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, February 23rd. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $16.00 target price (up previously from $15.50) on shares of HP in a report on Thursday, February 23rd. BMO Capital Markets increased their target price on HP to $17.00 in a report on Thursday, February 23rd. FBN Securities reaffirmed an “outperform” rating and set a $23.00 target price (up previously from $19.00) on shares of HP in a report on Sunday, May 28th. Finally, Wells Fargo & Company raised HP from a “market perform” rating to an “outperform” rating in a report on Monday, March 6th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.08.

In related news, CFO Catherine A. Lesjak sold 719,775 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $17.60, for a total value of $12,668,040.00. Following the completion of the transaction, the chief financial officer now directly owns 599,775 shares of the company’s stock, valued at approximately $10,556,040. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ron Coughlin sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total transaction of $181,400.00. Following the completion of the transaction, the insider now directly owns 61,745 shares of the company’s stock, valued at $1,120,054.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,089,151 shares of company stock valued at $19,453,274. Company insiders own 0.62% of the company’s stock.

About HP

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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