Bessemer Group Inc. Sells 58,064 Shares of HP Inc. (NYSE:HPQ)

Bessemer Group Inc. decreased its holdings in HP Inc. (NYSE:HPQ - Free Report) by 55.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,689 shares of the computer maker's stock after selling 58,064 shares during the quarter. Bessemer Group Inc.'s holdings in HP were worth $1,293,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HPQ. Oppenheimer & Co. Inc. raised its position in HP by 1.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 29,501 shares of the computer maker's stock valued at $963,000 after purchasing an additional 539 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of HP during the fourth quarter worth $6,901,000. QRG Capital Management Inc. raised its position in shares of HP by 1.4% during the fourth quarter. QRG Capital Management Inc. now owns 101,396 shares of the computer maker's stock worth $3,309,000 after acquiring an additional 1,368 shares during the last quarter. Flputnam Investment Management Co. raised its position in shares of HP by 40.3% during the fourth quarter. Flputnam Investment Management Co. now owns 67,989 shares of the computer maker's stock worth $2,218,000 after acquiring an additional 19,546 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of HP during the fourth quarter worth $989,000. Institutional investors own 77.53% of the company's stock.

HP Price Performance

Shares of NYSE:HPQ opened at $24.78 on Monday. The company has a market capitalization of $23.27 billion, a P/E ratio of 9.57, a P/E/G ratio of 2.01 and a beta of 1.30. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The business's 50 day simple moving average is $25.90 and its 200 day simple moving average is $28.96.

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

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.79%.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of recent research reports. KGI Securities initiated coverage on HP in a research report on Thursday, May 29th. They set a "neutral" rating for the company. Barclays set a $28.00 target price on HP and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Dbs Bank lowered HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Wells Fargo & Company decreased their target price on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. Finally, Citigroup decreased their target price on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. One 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $29.54.

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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