HP Inc. $HPQ Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in HP Inc. by 50.1%, selling 30,991 shares and leaving it with 30,873 shares valued at approximately $855,000.
• HP's Q2 earnings report showed an EPS of $0.71, which fell short of expectations, while revenue increased by 3.3% year-over-year to $13.22 billion.
• The company announced a quarterly dividend of $0.2894 per share, with a yield of 4.2%, indicating a commitment to return value to shareholders despite recent performance concerns.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 50.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,873 shares of the computer maker's stock after selling 30,991 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in HP were worth $855,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of HP during the 1st quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP during the 4th quarter worth about $36,000. Iron Horse Wealth Management LLC purchased a new stake in shares of HP during the 1st quarter worth about $39,000. Financial Freedom LLC grew its holdings in shares of HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after purchasing an additional 878 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in shares of HP by 165.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after purchasing an additional 947 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Price Performance

HPQ traded up $0.25 during trading hours on Wednesday, hitting $27.26. 6,741,605 shares of the stock were exchanged, compared to its average volume of 8,232,999. The stock has a 50-day simple moving average of $25.53 and a 200-day simple moving average of $26.88. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79. The stock has a market cap of $25.60 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.2%. HP's dividend payout ratio (DPR) is currently 44.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HPQ shares. JPMorgan Chase & Co. decreased their target price on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Barclays set a $28.00 price objective on shares of HP and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Citigroup lowered their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. KGI Securities began coverage on shares of HP in a research report on Thursday, May 29th. They issued a "neutral" rating for the company. Finally, Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.