Cerity Partners LLC Sells 79,067 Shares of HP Inc. (NYSE:HPQ)

Cerity Partners LLC lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 33.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,408 shares of the computer maker's stock after selling 79,067 shares during the period. Cerity Partners LLC's holdings in HP were worth $4,276,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares during the last quarter. Northern Trust Corp raised its stake in shares of HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after acquiring an additional 1,755,942 shares during the last quarter. Invesco Ltd. raised its stake in shares of HP by 7.3% in the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock valued at $310,351,000 after acquiring an additional 643,192 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of HP by 8.2% in 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 valued at $303,105,000 after acquiring an additional 707,742 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of HP in the fourth quarter valued at approximately $229,320,000. Institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HPQ shares. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. KGI Securities started coverage on shares of HP in a report on Thursday, May 29th. They issued a "neutral" rating for the company. Wells Fargo & Company lowered their price target on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. TD Cowen lowered their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Finally, Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, HP presently has a consensus rating of "Hold" and an average target price of $29.54.

HP Stock Performance

HPQ traded up $0.31 during trading on Friday, reaching $25.06. 7,173,134 shares of the company's stock were exchanged, compared to its average volume of 7,949,496. The company's fifty day moving average price is $25.89 and its 200-day moving average price is $28.24. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The firm has a market capitalization of $23.54 billion, a PE ratio of 9.68, a P/E/G ratio of 1.99 and a beta of 1.27.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The business 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%. HP's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. Research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.62%. HP's dividend payout ratio is 44.79%.

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.