Federated Hermes Inc. Has $13.35 Million Stock Holdings in HP Inc. (NYSE:HPQ)

Key Points

• Federated Hermes Inc. reduced its stake in HP Inc. by 5.1%, selling 25,931 shares in the first quarter, now owning about 0.05% of the company valued at approximately $13.3 million.
• HP reported $0.71 earnings per share for the recent quarter, missing the consensus estimate of $0.80, despite a 3.3% year-over-year increase in revenue, totaling $13.22 billion.
• The company announced a quarterly dividend of $0.2894 per share, resulting in an annualized yield of 4.7%, with the ex-dividend date set for September 10th.

Federated Hermes Inc. decreased its holdings in HP Inc. (NYSE:HPQ - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 482,096 shares of the computer maker's stock after selling 25,931 shares during the quarter. Federated Hermes Inc. owned approximately 0.05% of HP worth $13,349,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of HPQ. West Paces Advisors Inc. raised its stake in HP by 3.2% during the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock valued at $314,000 after buying an additional 298 shares in the last quarter. Beverly Hills Private Wealth LLC raised its stake in HP by 0.8% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 45,729 shares of the computer maker's stock valued at $1,492,000 after buying an additional 384 shares in the last quarter. Bleakley Financial Group LLC raised its stake in HP by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 20,262 shares of the computer maker's stock valued at $561,000 after buying an additional 411 shares in the last quarter. SageView Advisory Group LLC raised its stake in HP by 5.0% during the fourth quarter. SageView Advisory Group LLC now owns 8,919 shares of the computer maker's stock valued at $291,000 after buying an additional 425 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in HP by 3.9% during the fourth quarter. Rehmann Capital Advisory Group now owns 11,383 shares of the computer maker's stock valued at $371,000 after buying an additional 428 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HPQ shares. Wells Fargo & Company cut their price objective on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Citigroup cut their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Barclays set a $28.00 price objective on HP and gave the company an "equal weight" rating in a research note on Thursday, May 29th. TD Cowen dropped their price target on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Finally, Evercore ISI reduced their price objective on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.54.

HP Stock Up 0.0%

NYSE HPQ traded up $0.01 on Wednesday, reaching $25.06. 4,592,529 shares of the stock traded hands, compared to its average volume of 8,268,825. The firm's fifty day simple moving average is $25.06 and its 200 day simple moving average is $27.51. The company has a market cap of $23.53 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 2.02 and a beta of 1.29. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79.

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). The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, equities research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is presently 44.79%.

HP Company 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.