Alpine Bank Wealth Management Purchases Shares of 3,200 HP Inc. (NYSE:HPQ)

Alpine Bank Wealth Management acquired a new position in HP Inc. (NYSE:HPQ) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,200 shares of the computer maker’s stock, valued at approximately $89,000.

Several other hedge funds have also recently made changes to their positions in the business. D.A. Davidson & CO. increased its holdings in HP by 13.1% in the fourth quarter. D.A. Davidson & CO. now owns 13,001 shares of the computer maker’s stock worth $424,000 after purchasing an additional 1,509 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of HP by 27.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 8,814 shares of the computer maker’s stock valued at $288,000 after acquiring an additional 1,923 shares in the last quarter. Sentry Investment Management LLC bought a new stake in shares of HP in the 4th quarter valued at $123,000. Illinois Municipal Retirement Fund lifted its position in shares of HP by 228.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 220,674 shares of the computer maker’s stock valued at $7,201,000 after acquiring an additional 153,433 shares during the period. Finally, Lake Street Advisors Group LLC boosted its stake in HP by 218.3% during the fourth quarter. Lake Street Advisors Group LLC now owns 89,572 shares of the computer maker’s stock worth $2,948,000 after acquiring an additional 61,433 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of HP from $37.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, May 29th. KGI Securities started coverage on HP in a research report on Thursday, May 29th. They issued a “neutral” rating for the company. Wells Fargo & Company cut their price target on HP from $35.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday, May 29th. Barclays set a $28.00 price objective on HP and gave the company an “equal weight” rating in a research note on Thursday, May 29th. Finally, Bank of America lowered their target price on HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Hold” and a consensus price target of $29.54.

HP Stock Performance

Shares of NYSE:HPQ opened at $24.54 on Thursday. The stock has a market cap of $23.05 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 1.99 and a beta of 1.30. The stock’s fifty day simple moving average is $25.86 and its two-hundred day simple moving average is $29.19. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently announced 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. This represents a $1.16 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Wednesday, September 10th. HP’s dividend payout ratio is presently 44.40%.

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.