19,664 Shares in HP Inc. $HPQ Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of HP Inc. (NYSE:HPQ) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,664 shares of the computer maker’s stock, valued at approximately $431,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HPQ. Te Ahumairangi Investment Management Ltd purchased a new position in shares of HP in the second quarter worth about $2,319,000. First Nebraska Trust Co purchased a new stake in shares of HP during the 2nd quarter valued at approximately $1,716,000. Bank of Nova Scotia purchased a new stake in shares of HP during the 2nd quarter valued at approximately $16,583,000. Kendall Capital Management bought a new position in HP in the 2nd quarter worth approximately $2,357,000. Finally, Compass Financial Management LLC purchased a new position in HP in the 2nd quarter valued at approximately $38,000. Institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider David P. Mcquarrie sold 21,048 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the transaction, the insider directly owned 39,580 shares of the company’s stock, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 52,620 shares of company stock worth $1,478,622. 0.18% of the stock is currently owned by corporate insiders.

HP Stock Performance

Shares of NYSE:HPQ opened at $29.56 on Wednesday. HP Inc. has a 52-week low of $17.56 and a 52-week high of $32.19. The firm has a fifty day moving average of $25.96 and a 200 day moving average of $22.55. The firm has a market capitalization of $27.04 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 4.74 and a beta of 1.17.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The business had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter last year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts forecast that HP Inc. will post 3.03 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 annualized dividend and a dividend yield of 4.1%. HP’s dividend payout ratio is 44.28%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America boosted their target price on shares of HP from $16.00 to $18.00 and gave the company an “underperform” rating in a report on Thursday, May 28th. The Goldman Sachs Group raised their price target on HP from $19.00 to $21.00 and gave the stock a “sell” rating in a report on Wednesday, August 12th. UBS Group lifted their price target on HP from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Evercore set a $32.00 price objective on HP in a research note on Monday. Finally, Wells Fargo & Company increased their price objective on HP from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $24.17.

HP Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.