ARP Americas LP Raises Stake in HP Inc. (HPQ)

ARP Americas LP increased its position in shares of HP Inc. (NYSE:HPQ) by 267.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 128,153 shares of the computer maker’s stock after purchasing an additional 93,253 shares during the quarter. ARP Americas LP’s holdings in HP were worth $2,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP increased its holdings in HP by 28.6% in the first quarter. First Trust Advisors LP now owns 2,176,113 shares of the computer maker’s stock valued at $42,282,000 after purchasing an additional 483,807 shares during the last quarter. Harbor Island Capital LLC increased its holdings in HP by 64.1% in the first quarter. Harbor Island Capital LLC now owns 317,363 shares of the computer maker’s stock valued at $6,166,000 after purchasing an additional 124,020 shares during the last quarter. Shell Asset Management Co. increased its holdings in HP by 0.3% in the first quarter. Shell Asset Management Co. now owns 313,237 shares of the computer maker’s stock valued at $6,086,000 after purchasing an additional 1,000 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its holdings in HP by 3.2% in the first quarter. Morgan Dempsey Capital Management LLC now owns 267,053 shares of the computer maker’s stock valued at $5,189,000 after purchasing an additional 8,307 shares during the last quarter. Finally, Rational Advisors LLC increased its holdings in HP by 1,557.8% in the first quarter. Rational Advisors LLC now owns 1,923 shares of the computer maker’s stock valued at $37,000 after purchasing an additional 1,807 shares during the last quarter. 78.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of HP stock opened at $19.19 on Friday. HP Inc. has a 1 year low of $18.06 and a 1 year high of $27.08. The stock has a market capitalization of $29.81 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 3.22 and a beta of 1.38.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, May 23rd. The computer maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The company had revenue of $14.04 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts predict that HP Inc. will post 2.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be issued a $0.1602 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.64 annualized dividend and a dividend yield of 3.34%. HP’s dividend payout ratio (DPR) is currently 31.68%.

HPQ has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded HP from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. ValuEngine upgraded HP from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. reiterated a “hold” rating on shares of HP in a report on Thursday, February 28th. BMO Capital Markets reiterated a “hold” rating and issued a $22.00 price objective on shares of HP in a report on Wednesday, February 27th. Finally, Credit Suisse Group began coverage on HP in a report on Thursday, April 11th. They issued a “neutral” rating and a $21.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.71.

In related news, CEO Dion J. Weisler sold 36,799 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

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About HP

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.

Further Reading: Call Option

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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