Greenwood Capital Associates LLC Increases Stock Position in HP Inc. (NYSE:HPQ)

Greenwood Capital Associates LLC boosted its stake in HP Inc. (NYSE:HPQ) by 20.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,853 shares of the computer maker’s stock after purchasing an additional 7,178 shares during the quarter. Greenwood Capital Associates LLC’s holdings in HP were worth $1,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in HP in the fourth quarter worth $229,320,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of HP in the fourth quarter worth $65,260,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of HP in the fourth quarter valued at about $63,612,000. Northern Trust Corp raised its position in HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock valued at $419,126,000 after purchasing an additional 1,755,942 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of HP during the fourth quarter valued at approximately $55,915,000. 77.53% of the stock is owned by institutional investors.

Insider Transactions at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company’s stock, valued at $4,814.81. The trade was a 99.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

HP Stock Down 0.4%

Shares of HP stock opened at $24.72 on Friday. The stock’s 50-day simple moving average is $25.69 and its 200-day simple moving average is $29.93. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 2.96 and a beta of 1.30. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a dividend yield of 4.68%. HP’s payout ratio is 44.40%.

Analysts Set New Price Targets

A number of research firms have recently commented on HPQ. Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. TD Cowen dropped their target price on shares of HP from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, May 29th. Citigroup dropped their price objective on HP from $29.00 to $27.50 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. Morgan Stanley dropped their target price on shares of HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, May 29th. Finally, Bank of America cut their price target on HP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.54.

About HP

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.