First Horizon Advisors Inc. Buys 60,475 Shares of HP Inc. (NYSE:HPQ)

First Horizon Advisors Inc. boosted its stake in HP Inc. (NYSE:HPQ - Free Report) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 647,137 shares of the computer maker's stock after purchasing an additional 60,475 shares during the period. First Horizon Advisors Inc. owned about 0.07% of HP worth $17,919,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HPQ. Geode Capital Management LLC increased its stake in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after buying an additional 579,525 shares during the period. Amundi boosted its holdings in HP by 15.9% in the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker's stock valued at $217,319,000 after acquiring an additional 899,349 shares during the last quarter. Gotham Asset Management LLC increased its position in HP by 23.6% during the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock valued at $20,864,000 after purchasing an additional 122,289 shares during the period. Raymond James Financial Inc. bought a new position in HP during the 4th quarter worth approximately $36,492,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of HP in the 4th quarter worth approximately $9,481,000. 77.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley decreased their target price on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. TD Cowen dropped their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Finally, Barclays set a $28.00 target price on HP and gave the company an "equal weight" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.54.

HP Trading Up 0.6%

Shares of HPQ traded up $0.15 during mid-day trading on Friday, reaching $26.00. 4,740,176 shares of the stock traded hands, compared to its average volume of 7,929,317. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.27. The firm has a fifty day moving average price of $25.98 and a 200 day moving average price of $28.78.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business 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 business earned $0.82 EPS. The business's revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is currently 44.40%.

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.