LGT Group Foundation reduced its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 30.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,843 shares of the computer maker’s stock after selling 29,797 shares during the quarter. LGT Group Foundation’s holdings in HP were worth $2,021,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Romano Brothers AND Company purchased a new stake in HP in the 4th quarter worth approximately $171,000. Applied Capital LLC FL purchased a new stake in HP in the 4th quarter worth approximately $650,000. Covington Capital Management lifted its stake in HP by 1.4% in the 3rd quarter. Covington Capital Management now owns 49,530 shares of the computer maker’s stock worth $1,234,000 after purchasing an additional 686 shares in the last quarter. NorthRock Partners LLC purchased a new stake in HP in the 4th quarter worth approximately $246,000. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of HP in the 4th quarter worth $432,000. 76.18% of the stock is currently owned by hedge funds and other institutional investors.
HP Stock Performance
NYSE:HPQ opened at $30.71 on Monday. The firm has a market cap of $30.28 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.29 and a beta of 1.00. HP Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $35.32. The firm has a 50-day simple moving average of $30.10 and a two-hundred day simple moving average of $29.15.
HP (NYSE:HPQ – Free Report) last released its quarterly earnings data on Tuesday, May 30th. The computer maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The business had revenue of $12.91 billion during the quarter, compared to analyst estimates of $13.07 billion. HP had a net margin of 4.75% and a negative return on equity of 121.57%. HP’s revenue was down 21.7% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. On average, equities research analysts predict that HP Inc. will post 3.35 EPS for the current year.
HP Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.05 annualized dividend and a yield of 3.42%. HP’s dividend payout ratio (DPR) is 39.77%.
Insider Activity at HP
In related news, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $29.86, for a total transaction of $124,366.90. Following the completion of the sale, the chief financial officer now directly owns 38,941 shares in the company, valued at $1,162,778.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently commented on HPQ. StockNews.com lowered shares of HP from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised shares of HP from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $30.00 to $35.00 in a report on Monday, April 17th. UBS Group increased their price target on shares of HP from $30.00 to $31.00 in a report on Wednesday, May 31st. Morgan Stanley raised shares of HP from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $28.00 to $31.00 in a report on Monday, May 1st. Finally, 58.com reaffirmed a “maintains” rating on shares of HP in a report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, HP presently has a consensus rating of “Hold” and a consensus price target of $29.88.
HP Profile
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.