Alps Advisors Inc. Purchases 149,208 Shares of HP Inc. (NYSE:HPQ)

Alps Advisors Inc. increased its stake in HP Inc. (NYSE:HPQ - Free Report) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 850,385 shares of the computer maker's stock after purchasing an additional 149,208 shares during the quarter. Alps Advisors Inc. owned approximately 0.09% of HP worth $23,547,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after buying an additional 579,525 shares in the last quarter. Northern Trust Corp increased its stake in HP by 15.8% in the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after buying an additional 1,755,942 shares in the last quarter. Invesco Ltd. increased its stake in HP by 7.3% in the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock worth $310,351,000 after buying an additional 643,192 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in HP by 8.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after buying an additional 707,742 shares in the last quarter. Finally, Norges Bank purchased a new stake in HP in the 4th quarter worth $229,320,000. 77.53% of the stock is owned by institutional investors.

HP Stock Up 0.4%

HPQ traded up $0.12 on Thursday, hitting $25.74. The company had a trading volume of 7,606,923 shares, compared to its average volume of 7,958,481. The company has a market cap of $24.17 billion, a PE ratio of 9.94, a PEG ratio of 2.08 and a beta of 1.27. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The business's fifty day simple moving average is $26.00 and its 200 day simple moving average is $28.58.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The company's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS. On average, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is currently 44.79%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Wells Fargo & Company cut their price objective on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Evercore ISI cut their price objective on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, KGI Securities initiated coverage on HP in a research report on Thursday, May 29th. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.