HP Inc. (NYSE:HPQ) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in HP Inc. (NYSE:HPQ - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,807,410 shares of the computer maker's stock after buying an additional 88,421 shares during the period. Envestnet Asset Management Inc. owned 0.19% of HP worth $50,047,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after purchasing an additional 579,525 shares during the last quarter. Gotham Asset Management LLC boosted its position in shares of HP by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock worth $20,864,000 after purchasing an additional 122,289 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in HP during the 4th quarter worth $9,481,000. BayBridge Capital Group LLC acquired a new position in HP during the 1st quarter valued at about $1,505,000. Finally, National Bank of Canada FI raised its stake in HP by 71.7% in the fourth quarter. National Bank of Canada FI now owns 698,376 shares of the computer maker's stock valued at $22,788,000 after buying an additional 291,525 shares during the last quarter. Institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HPQ. Wells Fargo & Company dropped their price target on HP from $35.00 to $25.00 and set an "underweight" rating on the stock 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 report on Thursday, May 29th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley reduced their target price on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Finally, Bank of America lowered their price target on 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $29.54.

HP Stock Up 0.1%

Shares of NYSE HPQ traded up $0.04 during midday trading on Wednesday, reaching $24.56. 5,919,211 shares of the stock were exchanged, compared to its average volume of 7,963,609. The firm has a market cap of $23.06 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 2.01 and a beta of 1.27. The firm has a 50-day simple moving average of $25.95 and a two-hundred day simple moving average of $28.32. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share 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 analysts' expectations of $13.09 billion. During the same period in the previous year, the firm posted $0.82 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.71%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is 44.79%.

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.