Chevy Chase Trust Holdings LLC lessened its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,501 shares of the computer maker's stock after selling 13,849 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of HP worth $13,693,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in HP during the fourth quarter valued at about $36,000. OFI Invest Asset Management purchased a new stake in shares of HP during the 4th quarter valued at approximately $37,000. Financial Freedom LLC boosted its holdings in HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after buying an additional 878 shares during the period. Global X Japan Co. Ltd. purchased a new position in HP in the 1st quarter valued at approximately $43,000. Finally, CoreCap Advisors LLC grew its stake in HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock valued at $46,000 after buying an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.
HP Price Performance
Shares of NYSE:HPQ opened at $24.54 on Thursday. The company's fifty day moving average price is $25.86 and its 200-day moving average price is $29.19. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.99 and a beta of 1.30. HP Inc. has a one year low of $21.21 and a one year high of $39.80.
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). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the prior year, the company earned $0.82 EPS. The firm's revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that HP Inc. will post 3.56 EPS for the current year.
HP Announces Dividend
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 dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.40%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. TD Cowen cut their price target on HP from $38.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Citigroup dropped their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Dbs Bank downgraded HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. UBS Group decreased their price target on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Finally, Bank of America cut their price objective on shares of HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.54.
Check Out Our Latest Stock Report on HPQ
About HP
(
Free Report)
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.
See Also
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