Charles Schwab Investment Management Inc. Reduces Stock Holdings in HP Inc. (NYSE:HPQ)

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in HP Inc. by 0.7%, owning 6,785,121 shares worth approximately $187.88 million after selling 48,607 shares in the first quarter.
• In contrast, Northern Trust Corp and Allianz Asset Management significantly increased their positions in HP, with increases of 15.8% and 17.9%, respectively, showcasing strong institutional interest in the company.
• HP reported earnings of $0.71 per share for the quarter, falling short of analyst expectations, but saw a revenue increase of 3.3% year-over-year, totaling $13.22 billion.

Charles Schwab Investment Management Inc. lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,785,121 shares of the computer maker's stock after selling 48,607 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.72% of HP worth $187,880,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its position 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 buying an additional 1,755,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 buying an additional 707,742 shares in the last quarter. KBC Group NV increased its position in shares of HP by 18.5% in the first quarter. KBC Group NV now owns 4,214,069 shares of the computer maker's stock valued at $116,687,000 after buying an additional 658,080 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of HP by 17.9% in the first quarter. Allianz Asset Management GmbH now owns 4,190,799 shares of the computer maker's stock valued at $116,043,000 after buying an additional 637,734 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of HP by 9.5% in the fourth quarter. AQR Capital Management LLC now owns 4,084,465 shares of the computer maker's stock valued at $133,276,000 after buying an additional 354,843 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Trading Up 3.0%

Shares of NYSE:HPQ opened at $26.11 on Friday. The stock's 50-day moving average price is $25.05 and its two-hundred day moving average price is $27.36. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 2.11 and a beta of 1.29.

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). HP had a negative return on equity of 244.99% and a net margin of 4.64%. 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 previous year, the business posted $0.82 earnings per share. The firm's quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 4.4%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.79%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup dropped their price target on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Wells Fargo & Company dropped their price objective on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, 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. 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. Based on data from MarketBeat, HP has a consensus rating of "Hold" and an average price target 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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