Parametric Portfolio Associates buys $117,822,151 stake in HP Inc (HPQ)

HP Inc (HPQ) : Parametric Portfolio Associates scooped up 803,737 additional shares in HP Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 7,318,146 shares of HP Inc which is valued at $117,822,151.HP Inc makes up approximately 0.18% of Parametric Portfolio Associates’s portfolio.

Other Hedge Funds, Including , Element Capital Management sold out all of its stake in HPQ during the most recent quarter. The investment firm sold 83,064 shares of HPQ which is valued $1,337,330. Meritage Portfolio Management added HPQ to its portfolio by purchasing 358,372 company shares during the most recent quarter which is valued at $5,393,499. HP Inc makes up approx 0.61% of Meritage Portfolio Management’s portfolio.Huntington National Bank boosted its stake in HPQ in the latest quarter, The investment management firm added 34,555 additional shares and now holds a total of 162,936 shares of HP Inc which is valued at $2,338,132. HP Inc makes up approx 0.05% of Huntington National Bank’s portfolio.

HP Inc closed down -0.02 points or -0.13% at $15.87 with 1,08,78,170 shares getting traded on Monday. Post opening the session at $15.88, the shares hit an intraday low of $15.805 and an intraday high of $15.96 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, HP Inc reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 24, 2016. Analyst had a consensus of $0.45. The company had revenue of $11892.00 million for the quarter, compared to analysts expectations of $11491.65 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.88 EPS.

Investors should note that on Nov 9, 2016, HP Inc announced a cash dividend of $0.1327. The company’s management has announced Dec 12, 2016 as the ex-dividend date and fixed the record date on Dec 14, 2016. The payable date has been fixed on Jan 4, 2017.

Many Wall Street Analysts have commented on HP Inc. Company shares were Reiterated by Mizuho on Oct 14, 2016 to “Neutral”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .Company shares were Reiterated by UBS on Oct 14, 2016 to “Neutral”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .Company shares were Reiterated by RBC Capital Mkts on Oct 10, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .

HP Inc. formerly Hewlett-Packard Company is a provider of products technologies software solutions and services to individual consumers small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems Printing the Enterprise Group Enterprise Services Software HP Financial Services and Corporate Investments. It offers personal computing and other access devices; imaging and printing related products and services; enterprise information technology (IT) infrastructure including enterprise server and storage technology networking products and solutions technology support and maintenance; multi-vendor customer services including technology consulting outsourcing and support services across infrastructure applications and business process domains and software products and solution including application testing and delivery software big data analytics information governance and IT Operations Management.

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