Blueshift Asset Management LLC Increases Stock Position in HP Inc. (NYSE:HPQ)

Key Points

• Blueshift Asset Management LLC increased its position in HP Inc. by 59% during the 1st quarter, acquiring an additional 15,612 shares, bringing their total holdings to 42,092 shares valued at $1,166,000.
• HP's recent quarterly earnings report showed an EPS of $0.71, which missed analysts' expectations of $0.80, though revenues were slightly above expectations at $13.22 billion.
• The company also announced a quarterly dividend of $0.2894 per share, translating to an annualized yield of 4.7%, to be paid on October 1st.

Blueshift Asset Management LLC grew its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 59.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,092 shares of the computer maker's stock after purchasing an additional 15,612 shares during the quarter. Blueshift Asset Management LLC's holdings in HP were worth $1,166,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. West Paces Advisors Inc. grew its stake in HP by 3.2% during the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after buying an additional 298 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its holdings in shares of HP by 0.8% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 45,729 shares of the computer maker's stock valued at $1,492,000 after acquiring an additional 384 shares during the period. Bleakley Financial Group LLC grew its position in shares of HP by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 20,262 shares of the computer maker's stock worth $561,000 after acquiring an additional 411 shares during the last quarter. SageView Advisory Group LLC increased its holdings in shares of HP by 5.0% in the 4th quarter. SageView Advisory Group LLC now owns 8,919 shares of the computer maker's stock valued at $291,000 after acquiring an additional 425 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in HP by 3.9% in the 4th quarter. Rehmann Capital Advisory Group now owns 11,383 shares of the computer maker's stock valued at $371,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Down 1.2%

NYSE:HPQ opened at $24.81 on Friday. The firm's fifty day simple moving average is $25.26 and its 200-day simple moving average is $27.71. The stock has a market cap of $23.30 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last issued 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). The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. Equities analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is presently 44.79%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Dbs Bank downgraded HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Morgan Stanley decreased their price objective on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. dropped their target price on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a 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's stock. According to data from MarketBeat.com, HP has an average rating of "Hold" and an average 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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