Clarius Group LLC Sells 477 Shares of HP Inc. (NYSE:HPQ)

VaselineAugust 10, 2024

0 4 minutes read

Clarius Group LLC trimmed its position in HP Inc. (NYSE:HPQ – Free Report) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,917 shares of the computer maker’s stock after selling 477 shares during the period. Clarius Group LLC’s holdings in HP were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Simplicity Wealth LLC raised its stake in HP by 2.3% during the 2nd quarter. Simplicity Wealth LLC now owns 18,656 shares of the computer maker’s stock worth $653,000 after buying an additional 412 shares during the period. Valeo Financial Advisors LLC raised its stake in HP by 8.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,495 shares of the computer maker’s stock worth $368,000 after buying an additional 845 shares during the period. Linden Thomas Advisory Services LLC raised its stake in HP by 1.8% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 45,370 shares of the computer maker’s stock worth $1,589,000 after buying an additional 799 shares during the period. Foundation Resource Management Inc. raised its stake in HP by 1.2% during the 2nd quarter. Foundation Resource Management Inc. now owns 382,037 shares of the computer maker’s stock worth $13,379,000 after buying an additional 4,559 shares during the period. Finally, First Affirmative Financial Network acquired a new position in HP during the 2nd quarter worth approximately $203,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on HPQ. Bank of America raised their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley boosted their price objective on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. TD Cowen boosted their price objective on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Barclays boosted their price objective on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, HP has an average rating of “Moderate Buy” and an average price target of $34.64.

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Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the sale, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

HP Trading Up 1.6 %

Shares of HPQ stock traded up $0.52 during trading on Friday, hitting $33.54. The company’s stock had a trading volume of 6,605,502 shares, compared to its average volume of 7,908,677. The business has a fifty-day moving average of $35.76 and a 200-day moving average of $31.78. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The company has a market cap of $32.82 billion, a PE ratio of 11.33, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ – Get Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.61 billion. During the same period in the previous year, the company earned $0.80 earnings per share. HP’s revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a yield of 3.29%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is 37.16%.

About HP

(Free Report)

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.