Nine Chapters Capital Management Lowers stake in HP Inc (HPQ)

HP Inc (HPQ) : Nine Chapters Capital Management reduced its stake in HP Inc by 93.17% during the most recent quarter end. The investment management company now holds a total of 22,000 shares of HP Inc which is valued at $313,720 after selling 299,900 shares in HP Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.HP Inc makes up approximately 6.00% of Nine Chapters Capital Management’s portfolio.

Other Hedge Funds, Including , Commerce Bank boosted its stake in HPQ in the latest quarter, The investment management firm added 645 additional shares and now holds a total of 39,520 shares of HP Inc which is valued at $565,136. HP Inc makes up approx 0.01% of Commerce Bank’s portfolio.Tiaa Cref Trust Co Fsbmo reduced its stake in HPQ by selling 7,117 shares or 12.1% in the most recent quarter. The Hedge Fund company now holds 51,725 shares of HPQ which is valued at $729,840. HP Inc makes up approx 0.01% of Tiaa Cref Trust Co Fsbmo’s portfolio.

HP Inc opened for trading at $14.4 and hit $14.505 on the upside on Wednesday, eventually ending the session at $14.5, with a gain of 0.62% or 0.09 points. The heightened volatility saw the trading volume jump to 1,03,71,432 shares. Company has a market cap of $24,804 M.

On the company’s financial health, HP Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 25, 2016. Analyst had a consensus of $0.38. The company had revenue of $11588.00 million for the quarter, compared to analysts expectations of $11708.63 million. The company’s revenue was down -10.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.87 EPS.

Investors should note that on Jul 20, 2016, HP Inc announced a cash dividend of $0.1240. The company’s management has announced Sep 12, 2016 as the ex-dividend date and fixed the record date on Sep 14, 2016. The payable date has been fixed on Oct 5, 2016.

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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