27,131 Shares in HP Inc. (NYSE:HPQ) Bought by Procyon Advisors LLC

Procyon Advisors LLC purchased a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 27,131 shares of the computer maker's stock, valued at approximately $751,000.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in HP by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,900 shares of the computer maker's stock valued at $3,872,000 after buying an additional 24,139 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of HP by 8.9% in the 4th quarter. State of Alaska Department of Revenue now owns 210,875 shares of the computer maker's stock valued at $6,880,000 after acquiring an additional 17,175 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of HP in the 4th quarter valued at $639,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of HP by 1.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 108,723 shares of the computer maker's stock worth $3,548,000 after acquiring an additional 1,831 shares during the period. Finally, Vest Financial LLC raised its holdings in shares of HP by 39.4% during the fourth quarter. Vest Financial LLC now owns 25,394 shares of the computer maker's stock worth $829,000 after purchasing an additional 7,179 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their target price on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. UBS Group decreased their price objective on HP from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Morgan Stanley dropped their target price on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Barclays set a $28.00 price target on HP and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Finally, TD Cowen lowered their price objective on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, HP presently has an average rating of "Hold" and a consensus target price of $29.54.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company's 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 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 disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

HP Price Performance

HP stock opened at $25.18 on Friday. The stock has a market capitalization of $23.65 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30. The business has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $30.24. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last released 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). The company had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. On average, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 annualized dividend and a yield of 4.60%. HP's dividend payout ratio (DPR) is currently 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.

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