BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Holdings in HP Inc. $HPQ

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in HP Inc. by 218.8% during the first quarter, owning 490,153 shares worth approximately $13.57 million.
• Institutional investors currently hold 77.53% of HP's stock, with hedge funds like Northern Trust Corp and Invesco Ltd. also increasing their positions significantly.
• HP's recent earnings report showed a miss on EPS estimates, earning $0.71 compared to a consensus of $0.80, despite a revenue increase of 3.3% year-over-year.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in HP Inc. (NYSE:HPQ - Free Report) by 218.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 490,153 shares of the computer maker's stock after buying an additional 336,403 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.05% of HP worth $13,572,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in HPQ. Northern Trust Corp grew its holdings in HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after acquiring an additional 1,755,942 shares in the last quarter. Invesco Ltd. lifted its position in shares of HP by 19.2% during the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock worth $314,022,000 after purchasing an additional 1,829,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of HP by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after purchasing an additional 707,742 shares in the last quarter. Deutsche Bank AG increased its holdings in HP by 2.4% in the first quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker's stock valued at $228,204,000 after buying an additional 189,969 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in HP in the first quarter valued at $179,037,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HPQ has been the subject of several analyst reports. Barclays set a $28.00 price objective on HP and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Morgan Stanley lowered their price target on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. UBS Group cut their price objective on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, TD Cowen reduced their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. One investment 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, HP currently has a consensus rating of "Hold" and an average target price of $29.54.

HP Stock Performance

Shares of HPQ opened at $26.75 on Monday. The stock has a market capitalization of $25.13 billion, a P/E ratio of 10.33, a P/E/G ratio of 2.16 and a beta of 1.29. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79. The company's fifty day moving average is $25.20 and its two-hundred day moving average is $27.10.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company's revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. Sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

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 issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is currently 44.79%.

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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