Latest Stocks: HP Inc (HPQ) Shares Sold by Bank of New York Mellon Corp

Latest Stocks: HP Inc (HPQ) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of HP Inc (NYSE:HPQ) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,224,690 shares of the computer maker’s stock after selling 1,619,512 shares during the period. Bank of New York Mellon Corp owned 1.55% of HP worth $468,899,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in HP during the third quarter valued at approximately $106,000. CWM LLC increased its position in HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the period. Virtus Investment Advisers Inc. acquired a new position in HP during the third quarter valued at approximately $120,000. Acrospire Investment Management LLC increased its position in HP by 9.6% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the computer maker’s stock valued at $124,000 after buying an additional 700 shares during the period. Finally, Cedar Wealth Management LLC increased its position in HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock valued at $131,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 78.94% of the company’s stock.

Shares of HP Inc (NYSE:HPQ) opened at 18.80 on Tuesday. HP Inc has a 52 week low of $11.48 and a 52 week high of $19.58. The stock has a 50 day moving average of $18.85 and a 200 day moving average of $16.80. The stock has a market cap of $31.73 billion, a P/E ratio of 13.30 and a beta of 1.52.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. On average, analysts expect that HP Inc will post $1.63 earnings per share for the current year. The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 12th. HP’s payout ratio is 37.32%.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. On average, analysts expect that HP Inc will post $1.63 earnings per share for the current year. HPQ has been the topic of several research reports. Credit Suisse Group AG restated a “buy” rating and set a $19.00 price objective on shares of HP in a research report on Tuesday, May 23rd. BMO Capital Markets raised their price objective on shares of HP from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 25th. Citigroup Inc set a $20.00 target price on shares of HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Vetr cut shares of HP from a “buy” rating to a “hold” rating and set a $19.72 target price on the stock. in a research report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $20.00 price objective (up previously from $18.00) on shares of HP in a research report on Friday, May 19th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.08.

In other HP news, insider Ron Coughlin sold 10,000 shares of the stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total value of $181,400.00. Following the completion of the transaction, the insider now owns 61,745 shares in the company, valued at $1,120,054.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Catherine A. Lesjak sold 719,775 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $17.60, for a total value of $12,668,040.00. Following the completion of the transaction, the chief financial officer now owns 599,775 shares of the company’s stock, valued at approximately $10,556,040. The disclosure for this sale can be found here. Insiders sold 1,015,159 shares of company stock valued at $18,142,136 in the last quarter. 0.51% of the stock is currently owned by company insiders. HP Company Profile

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