Manning & Napier Advisors LLC Purchases Shares of 114,502 HP Inc. $HPQ

Manning & Napier Advisors LLC bought a new position in shares of HP Inc. (NYSE:HPQ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 114,502 shares of the computer maker’s stock, valued at approximately $2,592,000.

A number of other institutional investors have also modified their holdings of HPQ. IHT Wealth Management LLC raised its stake in HP by 3.3% during the 2nd quarter. IHT Wealth Management LLC now owns 12,470 shares of the computer maker’s stock valued at $305,000 after acquiring an additional 398 shares during the last quarter. Vident Advisory LLC raised its stake in shares of HP by 0.6% during the 2nd quarter. Vident Advisory LLC now owns 69,579 shares of the computer maker’s stock worth $1,702,000 after buying an additional 444 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of HP by 10.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker’s stock valued at $110,000 after buying an additional 467 shares during the period. Vise Technologies Inc. boosted its stake in shares of HP by 2.4% in the third quarter. Vise Technologies Inc. now owns 20,531 shares of the computer maker’s stock valued at $559,000 after buying an additional 477 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its position in shares of HP by 0.6% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker’s stock worth $1,772,000 after purchasing an additional 491 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HP

In other news, insider David P. Mcquarrie sold 21,048 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the transaction, the insider owned 39,580 shares of the company’s stock, valued at approximately $1,186,608.40. The trade was a 34.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,620 shares of company stock valued at $1,478,622 in the last quarter. Company insiders own 0.18% of the company’s stock.

HP Price Performance

Shares of HP stock opened at $29.56 on Wednesday. HP Inc. has a 1-year low of $17.56 and a 1-year high of $32.19. The business has a 50-day moving average of $25.96 and a 200-day moving average of $22.55. The company has a market capitalization of $27.04 billion, a PE ratio of 10.91, a P/E/G ratio of 4.74 and a beta of 1.17.

HP (NYSE:HPQ) last released its earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities analysts expect that HP Inc. will post 3.03 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, September 9th. HP’s dividend payout ratio (DPR) is presently 44.28%.

Analysts Set New Price Targets

A number of analysts have commented on HPQ shares. UBS Group boosted their target price on HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. The Goldman Sachs Group raised their target price on shares of HP from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Citigroup boosted their price target on HP from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Finally, Barclays increased their price objective on shares of HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, HP currently has an average rating of “Reduce” and an average price target of $24.17.

HP Company Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.