44 Wealth Management LLC Reduces Stock Position in HP Inc. (NYSE:HPQ)

44 Wealth Management LLC lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 41,096 shares of the computer maker's stock after selling 11,075 shares during the period. 44 Wealth Management LLC's holdings in HP were worth $1,138,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of HPQ. Calamos Advisors LLC grew its position in shares of HP by 1.1% during the first quarter. Calamos Advisors LLC now owns 252,343 shares of the computer maker's stock worth $6,987,000 after purchasing an additional 2,810 shares in the last quarter. Conning Inc. grew its holdings in HP by 16.0% during the 1st quarter. Conning Inc. now owns 1,173,130 shares of the computer maker's stock valued at $32,484,000 after buying an additional 162,175 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of HP by 1.3% during the first quarter. Principal Financial Group Inc. now owns 1,137,381 shares of the computer maker's stock valued at $31,494,000 after buying an additional 14,296 shares during the last quarter. Mutual Advisors LLC raised its position in shares of HP by 15.0% during the first quarter. Mutual Advisors LLC now owns 64,433 shares of the computer maker's stock valued at $1,629,000 after buying an additional 8,387 shares during the last quarter. Finally, Meritage Portfolio Management lifted its holdings in shares of HP by 37.8% in the first quarter. Meritage Portfolio Management now owns 140,632 shares of the computer maker's stock worth $3,894,000 after buying an additional 38,568 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Price Performance

Shares of NYSE:HPQ traded up $0.15 during trading on Friday, hitting $26.00. The company had a trading volume of 4,740,176 shares, compared to its average volume of 7,929,317. The stock has a market cap of $24.42 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The company has a fifty day simple moving average of $25.98 and a two-hundred day simple moving average of $28.78. HP Inc. has a one year low of $21.21 and a one year 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 for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 EPS. On average, equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.45%. HP's payout ratio is 44.79%.

Analyst Ratings Changes

Several equities analysts recently weighed in on HPQ shares. JPMorgan Chase & Co. cut their target price on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. TD Cowen dropped their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. UBS Group reduced their target price on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Citigroup decreased their target price on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Finally, Bank of America dropped 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 investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $29.54.

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.