Arkadios Wealth Advisors acquired a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 60,989 shares of the computer maker's stock, valued at approximately $1,689,000.
Several other institutional investors have also recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in HP during the first quarter worth $417,000. Banque Cantonale Vaudoise acquired a new stake in shares of HP during the first quarter valued at $3,927,000. Meeder Asset Management Inc. boosted its stake in shares of HP by 173.6% during the first quarter. Meeder Asset Management Inc. now owns 22,180 shares of the computer maker's stock valued at $614,000 after acquiring an additional 14,072 shares during the last quarter. Meeder Advisory Services Inc. increased its position in HP by 19.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 20,758 shares of the computer maker's stock worth $575,000 after purchasing an additional 3,410 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in HP by 0.3% in the 1st quarter. Mackenzie Financial Corp now owns 283,483 shares of the computer maker's stock valued at $7,850,000 after purchasing an additional 733 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.
HP Stock Performance
HP stock traded down $0.35 during midday trading on Friday, reaching $24.45. The stock had a trading volume of 7,929,429 shares, compared to its average volume of 7,180,463. The stock's 50-day simple moving average is $25.19 and its 200 day simple moving average is $27.58. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.79. The stock has a market capitalization of $22.97 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 1.98 and a beta of 1.29.
HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.
HP Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is currently 44.79%.
Wall Street Analysts Forecast Growth
HPQ has been the topic of several analyst reports. Morgan Stanley decreased their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 29th. Bank of America decreased their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. 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 report on Thursday, May 29th. Dbs Bank lowered HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, KGI Securities initiated coverage on HP in a research report on Thursday, May 29th. They issued 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 issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $29.54.
Get Our Latest Analysis on HPQ
HP Profile
(
Free Report)
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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