Weybosset Research & Management LLC raised its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 325,111 shares of the computer maker’s stock after purchasing an additional 2,005 shares during the period. HP comprises about 3.7% of Weybosset Research & Management LLC’s portfolio, making the stock its 14th largest holding. Weybosset Research & Management LLC’s holdings in HP were worth $9,984,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Burke & Herbert Bank & Trust Co. grew its holdings in HP by 6.7% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 28,123 shares of the computer maker’s stock worth $864,000 after buying an additional 1,765 shares in the last quarter. Occidental Asset Management LLC grew its position in HP by 3.5% in the 2nd quarter. Occidental Asset Management LLC now owns 84,030 shares of the computer maker’s stock valued at $2,581,000 after buying an additional 2,859 shares in the last quarter. Selective Wealth Management Inc. bought a new position in HP in the 2nd quarter valued at about $254,000. Sanders Morris Harris LLC bought a new position in HP in the 2nd quarter valued at about $461,000. Finally, Czech National Bank grew its position in HP by 0.8% in the 2nd quarter. Czech National Bank now owns 102,623 shares of the computer maker’s stock valued at $3,152,000 after buying an additional 823 shares in the last quarter. Institutional investors own 76.04% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. UBS Group increased their price target on HP from $30.00 to $31.00 in a research note on Wednesday, May 31st. JPMorgan Chase & Co. decreased their price target on HP from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, August 30th. 58.com restated a “maintains” rating on shares of HP in a research report on Wednesday, May 31st. Finally, Bank of America reduced their price objective on shares of HP from $27.00 to $25.00 and set an “underperform” rating for the company in a research report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, HP presently has an average rating of “Hold” and an average target price of $29.73.
HP Price Performance
Shares of HPQ opened at $27.32 on Tuesday. HP Inc. has a one year low of $24.08 and a one year high of $33.90. The company has a 50-day moving average of $31.50 and a two-hundred day moving average of $30.29. The stock has a market cap of $27.00 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.07 and a beta of 1.02.
HP (NYSE:HPQ – Get Free Report) last issued its earnings results on Tuesday, August 29th. The computer maker reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. The business had revenue of $13.20 billion during the quarter, compared to analysts’ expectations of $13.38 billion. HP had a negative return on equity of 114.62% and a net margin of 4.23%. HP’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. Analysts anticipate that HP Inc. will post 3.3 earnings per share for the current year.
HP Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is presently 45.26%.
Insiders Place Their Bets
In other HP news, major shareholder Berkshire Hathaway Inc sold 2,893,236 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $28.39, for a total value of $82,138,970.04. Following the transaction, the insider now owns 115,450,646 shares in the company, valued at $3,277,643,839.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Berkshire Hathaway Inc sold 2,893,236 shares of HP stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $28.39, for a total transaction of $82,138,970.04. Following the completion of the sale, the insider now directly owns 115,450,646 shares in the company, valued at approximately $3,277,643,839.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Marie Myers sold 4,165 shares of HP 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 disclosure for this sale can be found here. Insiders sold a total of 4,030,824 shares of company stock worth $116,034,788 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.
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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