Cullinan Associates Inc. Has $6.85 Million Stake in HP Inc. (NYSE:HPQ)

Cullinan Associates Inc. boosted its position in HP Inc. (NYSE:HPQ - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,423 shares of the computer maker's stock after buying an additional 36,559 shares during the period. Cullinan Associates Inc.'s holdings in HP were worth $6,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in HP in the fourth quarter valued at $36,000. OFI Invest Asset Management acquired a new position in HP in the fourth quarter valued at $37,000. CoreCap Advisors LLC lifted its holdings in HP by 71.9% in the fourth 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 during the period. Financial Freedom LLC lifted its holdings in HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after buying an additional 878 shares during the period. Finally, Global X Japan Co. Ltd. acquired a new position in HP in the first quarter valued at $43,000. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Price Performance

NYSE:HPQ opened at $24.16 on Friday. The firm has a 50-day moving average of $25.82 and a 200-day moving average of $29.38. The company has a market cap of $22.69 billion, a PE ratio of 9.33, a PEG ratio of 1.95 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 posted its earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is 44.79%.

Analyst Upgrades and Downgrades

HPQ has been the subject of several research analyst reports. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. Barclays set a $28.00 price target on shares of HP and gave the company an "equal weight" rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. decreased their price target on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Finally, Bank of America decreased their price target on shares of HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $29.54.

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company's stock, valued at approximately $4,814.81. This represents a 99.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

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.

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