HP Inc. (HPQ) Stake Boosted by Toronto Dominion Bank
Toronto Dominion Bank raised its holdings in shares of HP Inc. (NYSE:HPQ) by 12.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,087,631 shares of the computer maker’s stock after purchasing an additional 121,023 shares during the period. Toronto Dominion Bank’s holdings in HP were worth $21,127,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of HPQ. Unison Advisors LLC increased its position in shares of HP by 0.5% in the 4th quarter. Unison Advisors LLC now owns 91,261 shares of the computer maker’s stock valued at $1,882,000 after acquiring an additional 483 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of HP by 12.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,402 shares of the computer maker’s stock valued at $90,000 after acquiring an additional 499 shares during the period. Cullen Frost Bankers Inc. grew its position in HP by 5.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 12,159 shares of the computer maker’s stock worth $237,000 after purchasing an additional 582 shares during the period. Canandaigua National Bank & Trust Co. grew its position in HP by 5.6% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 11,171 shares of the computer maker’s stock worth $217,000 after purchasing an additional 595 shares during the period. Finally, Montecito Bank & Trust grew its position in HP by 2.6% during the 1st quarter. Montecito Bank & Trust now owns 23,902 shares of the computer maker’s stock worth $464,000 after purchasing an additional 598 shares during the period. 79.19% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on HPQ. Bank of America downgraded HP from a “buy” rating to an “underperform” rating and set a $19.00 price target on the stock. in a research report on Thursday, February 28th. BMO Capital Markets reaffirmed a “hold” rating and set a $22.00 price target on shares of HP in a research report on Wednesday, February 27th. Zacks Investment Research raised HP from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. ValuEngine raised HP from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, 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 target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. HP presently has a consensus rating of “Hold” and an average price target of $25.71.
Shares of HPQ stock traded up $0.28 during mid-day trading on Thursday, hitting $19.01. 87,061 shares of the stock were exchanged, compared to its average volume of 11,334,676. HP Inc. has a 52-week low of $18.06 and a 52-week high of $27.08. The firm has a market cap of $28.72 billion, a P/E ratio of 9.41, a PEG ratio of 3.02 and a beta of 1.38.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.52. The firm had revenue of $14.71 billion for the quarter, compared to analyst estimates of $14.81 billion. HP had a net margin of 7.15% and a negative return on equity of 216.97%. HP’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.48 EPS. On average, research analysts expect that HP Inc. will post 2.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 12th will be paid a $0.1602 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.37%. HP’s dividend payout ratio is presently 31.68%.
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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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