Patton Albertson Miller Group LLC decreased its holdings in HP Inc. (NYSE:HPQ – Free Report) by 32.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,239 shares of the computer maker’s stock after selling 61,129 shares during the period. Patton Albertson Miller Group LLC’s holdings in HP were worth $3,523,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock valued at $825,398,000 after acquiring an additional 579,525 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of HP by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker’s stock valued at $20,864,000 after acquiring an additional 122,289 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of HP in the 4th quarter valued at about $9,481,000. BayBridge Capital Group LLC bought a new position in shares of HP in the 1st quarter valued at about $1,505,000. Finally, National Bank of Canada FI lifted its holdings in shares of HP by 71.7% in the 4th quarter. National Bank of Canada FI now owns 698,376 shares of the computer maker’s stock valued at $22,788,000 after acquiring an additional 291,525 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.
Wall Street Analyst Weigh In
HPQ has been the subject of several analyst reports. Bank of America decreased their price objective on shares of HP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. TD Cowen decreased their price objective on shares of HP from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. Citigroup decreased their price objective on shares of HP from $29.00 to $27.50 and set a “neutral” rating for the company in a research note on Thursday, May 29th. Morgan Stanley decreased their price objective on shares of HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, May 29th. Finally, Evercore ISI decreased their price objective on shares of HP from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.54.
HP Stock Performance
HP stock opened at $24.75 on Friday. The company has a 50 day moving average price of $25.89 and a 200-day moving average price of $28.24. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a market capitalization of $23.24 billion, a PE ratio of 9.55, a P/E/G ratio of 1.99 and a beta of 1.27.
HP (NYSE:HPQ – Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the prior year, the firm posted $0.82 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.
HP Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is 44.79%.
HP Company 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.
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