4. QUALITY EDUCATION

HP Inc. (NYSE:HPQ) Shares Sold by Citigroup Inc.

Written by Amanda

Citigroup Inc. decreased its holdings in shares of HP Inc. (NYSE:HPQFree Report) by 22.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,810,178 shares of the computer maker’s stock after selling 524,424 shares during the quarter. Citigroup Inc. owned approximately 0.18% of HP worth $55,591,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC boosted its holdings in shares of HP by 96.1% in the second quarter. BNP Paribas Arbitrage SNC now owns 970,297 shares of the computer maker’s stock valued at $29,798,000 after acquiring an additional 475,384 shares in the last quarter. Equitable Trust Co. increased its stake in shares of HP by 4.3% during the 2nd quarter. Equitable Trust Co. now owns 12,175 shares of the computer maker’s stock worth $374,000 after purchasing an additional 500 shares in the last quarter. Altfest L J & Co. Inc. acquired a new position in shares of HP during the 2nd quarter worth approximately $215,000. Canada Pension Plan Investment Board lifted its stake in HP by 47,770.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,787 shares of the computer maker’s stock valued at $147,000 after buying an additional 4,777 shares in the last quarter. Finally, Roundview Capital LLC acquired a new stake in HP during the 2nd quarter valued at $791,000. Institutional investors and hedge funds own 76.04% of the company’s stock.

Insider Activity

In related news, CEO Enrique Lores sold 38,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $25.75, for a total value of $978,500.00. Following the completion of the sale, the chief executive officer now owns 728,268 shares in the company, valued at $18,752,901. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Marie Myers sold 4,165 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.00, for a total value of $124,950.00. Following the transaction, the chief financial officer now owns 22,281 shares in the company, valued at approximately $668,430. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Enrique Lores sold 38,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $25.75, for a total transaction of $978,500.00. Following the completion of the sale, the chief executive officer now directly owns 728,268 shares of the company’s stock, valued at approximately $18,752,901. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,457,179 shares of company stock valued at $388,231,371. Company insiders own 0.32% of the company’s stock.

HP Price Performance

Shares of HP stock opened at $28.21 on Friday. The firm has a market cap of $27.88 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 2.35 and a beta of 1.04. The stock has a 50-day simple moving average of $26.89 and a 200-day simple moving average of $29.58. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90.

HP (NYSE:HPQGet Free Report) last released its earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. HP had a negative return on equity of 113.55% and a net margin of 4.23%. The business had revenue of $13.20 billion for the quarter, compared to the consensus estimate of $13.38 billion. During the same period last year, the business earned $1.04 earnings per share. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, equities research analysts predict that HP Inc. will post 3.3 earnings per share for the current year.

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.91%. This is a positive change from HP’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, December 12th. HP’s dividend payout ratio (DPR) is presently 45.26%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on HP from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. Edward Jones raised shares of HP from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Deutsche Bank Aktiengesellschaft cut their target price on HP from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, August 30th. Barclays dropped their price target on HP from $24.00 to $23.00 and set an “underweight” rating for the company 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 target price for the stock from $25.00 to $33.00 in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.82.

View Our Latest Stock Report on HPQ

About HP

(Free Report)

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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About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai