Conning Inc. Raises Stock Position in HP Inc. (NYSE:HPQ)

Conning Inc. grew its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 16.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,173,130 shares of the computer maker's stock after purchasing an additional 162,175 shares during the period. Conning Inc. owned approximately 0.12% of HP worth $32,484,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in HP by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,137,381 shares of the computer maker's stock valued at $31,494,000 after acquiring an additional 14,296 shares during the period. Mutual Advisors LLC raised its holdings in HP by 15.0% in the first quarter. Mutual Advisors LLC now owns 64,433 shares of the computer maker's stock worth $1,629,000 after buying an additional 8,387 shares during the last quarter. Meritage Portfolio Management raised its holdings in shares of HP by 37.8% during the first quarter. Meritage Portfolio Management now owns 140,632 shares of the computer maker's stock valued at $3,894,000 after purchasing an additional 38,568 shares during the last quarter. Capital Investment Counsel Inc raised its holdings in shares of HP by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 17,107 shares of the computer maker's stock valued at $474,000 after purchasing an additional 516 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of HP by 10.3% during the first quarter. First Horizon Advisors Inc. now owns 647,137 shares of the computer maker's stock valued at $17,919,000 after purchasing an additional 60,475 shares during the last quarter. Institutional investors own 77.53% of the company's stock.

HP Stock Performance

NYSE HPQ traded up $0.15 during mid-day trading on Friday, reaching $26.00. 4,740,176 shares of the stock were exchanged, compared to its average volume of 7,929,317. The business's 50 day moving average is $25.99 and its 200-day moving average is $28.73. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The company has a market capitalization of $24.42 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.11 and a beta of 1.27.

HP (NYSE:HPQ - Get Free Report) last announced 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 analysts' expectations of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.82 earnings per share. Equities analysts predict 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. Stockholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio is currently 44.79%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. KGI Securities began coverage on shares of HP in a research note on Thursday, May 29th. They issued a "neutral" rating for the company. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group reduced their price objective on shares of HP from $37.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Finally, Morgan Stanley cut their target price on shares of HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, HP currently has an average rating of "Hold" and a consensus price target of $29.54.

HP 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.