Atria Wealth Solutions Inc. Sells 16,963 Shares of HP Inc. (NYSE:HPQ)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in HP Inc. by 31.8%, holding 36,334 shares valued at approximately $1.01 million after selling 16,963 shares in the first quarter.
• HP's recent earnings report showed a miss in EPS expectations, reporting $0.71 compared to the consensus estimate of $0.80, with revenues slightly up 3.3% year-over-year.
• The company announced a quarterly dividend of $0.2894, resulting in an annualized yield of 4.5%, with the payout scheduled for October 1st.

Atria Wealth Solutions Inc. reduced its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 31.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,334 shares of the computer maker's stock after selling 16,963 shares during the period. Atria Wealth Solutions Inc.'s holdings in HP were worth $1,012,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of HP in the 1st quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP in the 4th quarter worth approximately $36,000. Iron Horse Wealth Management LLC purchased a new position in shares of HP in the 1st quarter worth approximately $39,000. Financial Freedom LLC boosted its stake in shares of HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after buying an additional 878 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after buying an additional 947 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on HPQ. Morgan Stanley dropped their price objective on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 29th. Dbs Bank downgraded HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. UBS Group dropped their price objective on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Wells Fargo & Company lowered their target price on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Finally, Bank of America lowered their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.54.

HP Trading Down 0.7%

Shares of HP stock traded down $0.18 during trading on Friday, hitting $26.75. The stock had a trading volume of 6,974,211 shares, compared to its average volume of 7,416,959. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 2.18 and a beta of 1.29. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79. The business's 50-day moving average is $25.20 and its 200 day moving average is $27.18.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.3%. HP's payout ratio is 44.79%.

HP 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.