HP Inc. (NYSE:HPQ) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lowered its stake in shares of HP Inc. (NYSE:HPQ) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,921 shares of the computer maker’s stock after selling 4,036 shares during the period. ARK Investment Management LLC’s holdings in HP were worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of HP during the fourth quarter valued at $334,781,000. Oregon Public Employees Retirement Fund increased its holdings in shares of HP by 2,609.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,544,575 shares of the computer maker’s stock valued at $564,000 after acquiring an additional 11,118,507 shares in the last quarter. Millennium Management LLC increased its holdings in shares of HP by 618.3% during the fourth quarter. Millennium Management LLC now owns 3,497,565 shares of the computer maker’s stock valued at $71,560,000 after acquiring an additional 3,010,663 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of HP by 113.6% during the first quarter. DNB Asset Management AS now owns 5,496,652 shares of the computer maker’s stock valued at $106,800,000 after acquiring an additional 2,923,736 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of HP by 8.9% during the fourth quarter. Deutsche Bank AG now owns 33,764,593 shares of the computer maker’s stock valued at $690,814,000 after acquiring an additional 2,745,820 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

HPQ stock traded up $0.05 during trading on Friday, hitting $20.79. 10,777,275 shares of the company’s stock were exchanged, compared to its average volume of 11,141,166. The firm has a market capitalization of $31.32 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 3.13 and a beta of 1.35. HP Inc. has a 52-week low of $18.06 and a 52-week high of $27.08. The firm’s 50-day moving average price is $19.66.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, May 23rd. The computer maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The company had revenue of $14.04 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that HP Inc. will post 2.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. HP’s dividend payout ratio (DPR) is presently 31.68%.

HPQ has been the topic of several research reports. Bank of America downgraded shares of HP from a “buy” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Thursday, February 28th. ValuEngine lowered HP from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. BMO Capital Markets cut their target price on HP from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, February 28th. Credit Suisse Group began coverage on HP in a research report on Thursday, April 11th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of HP in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $24.43.

In other HP news, Director Shumeet Banerji sold 28,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.00, for a total transaction of $560,000.00. Following the sale, the director now directly owns 31,311 shares in the company, valued at $626,220. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dion J. Weisler sold 132,964 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $20.95, for a total value of $2,785,595.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,635 shares of company stock worth $4,423,266. Company insiders own 0.25% of the company’s stock.

HP Profile

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.

See Also: 52-Week High/Low

Institutional Ownership by Quarter for HP (NYSE:HPQ)

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