Los Angeles Capital Management & Equity Research Inc. Sells 73,652 Shares of HP Inc (HPQ)

Los Angeles Capital Management & Equity Research Inc. reduced its position in HP Inc (NYSE:HPQ) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,661,752 shares of the computer maker’s stock after selling 73,652 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in HP were worth $47,592,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in shares of HP during the third quarter worth approximately $106,000. CWM LLC boosted its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after buying an additional 675 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock worth $124,000 after buying an additional 3,264 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of HP by 24.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,452 shares of the computer maker’s stock worth $133,000 after buying an additional 1,488 shares during the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

Shares of HP Inc (HPQ) traded down 0.71% during midday trading on Friday, hitting $18.15. The company had a trading volume of 1,689,471 shares. The company has a 50-day moving average of $18.85 and a 200-day moving average of $16.84. The company has a market capitalization of $30.64 billion, a PE ratio of 12.84 and a beta of 1.52. HP Inc has a 12 month low of $11.48 and a 12 month high of $19.58.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts predict that HP Inc will post $1.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, June 12th. HP’s dividend payout ratio is presently 37.32%.

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A number of analysts have commented on the company. Mizuho upped their price target on HP from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. Jefferies Group LLC upped their price target on HP from $16.00 to $16.50 and gave the stock a “hold” rating in a research report on Thursday, February 23rd. Wells Fargo & Co restated an “outperform” rating and issued a $21.00 price target on shares of HP in a research report on Thursday, March 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $20.00 price target (up previously from $18.00) on shares of HP in a research report on Friday, May 19th. Finally, Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Tuesday, April 25th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.08.

In other HP news, 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 transaction, the insider now directly owns 61,745 shares in the company, valued at $1,120,054.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Catherine A. Lesjak sold 67,997 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $19.00, for a total value of $1,291,943.00. Following the transaction, the chief financial officer now owns 67,997 shares in the company, valued at $1,291,943. The disclosure for this sale can be found here. Insiders sold 1,015,159 shares of company stock worth $18,142,136 over the last quarter. 0.51% of the stock is currently owned by insiders.

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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