Foster & Motley Inc. Grows Stock Position in HP Inc. (NYSE:HPQ)

Key Points

• Foster & Motley Inc. increased its stake in HP Inc. by 7.3%, acquiring an additional 16,824 shares, bringing their total ownership to 247,388 shares valued at approximately $6.85 million.
• HP's recent earnings report showed EPS of $0.71, which missed expectations by $0.09, despite a revenue of $13.22 billion that surpassed forecasts.
• The company declared a quarterly dividend of $0.2894 per share, effective October 1st, representing an annual yield of 4.51%.

Foster & Motley Inc. increased its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,388 shares of the computer maker's stock after purchasing an additional 16,824 shares during the quarter. Foster & Motley Inc.'s holdings in HP were worth $6,850,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HPQ. Geode Capital Management LLC increased its position in HP by 2.3% during the 4th 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 in the last quarter. Northern Trust Corp increased its holdings in shares of HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after purchasing an additional 1,755,942 shares during the period. Invesco Ltd. increased its holdings in shares of HP by 7.3% in the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock valued at $310,351,000 after purchasing an additional 643,192 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of HP by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock valued at $303,105,000 after purchasing an additional 707,742 shares during the period. Finally, KBC Group NV increased its holdings in shares of HP by 18.5% in the first quarter. KBC Group NV now owns 4,214,069 shares of the computer maker's stock valued at $116,687,000 after purchasing an additional 658,080 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HPQ shares. Bank of America cut their price objective on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. KGI Securities started coverage on HP in a report on Thursday, May 29th. They issued a "neutral" rating on the stock. Evercore ISI cut their price objective on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. UBS Group dropped their target price on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. dropped their target price on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $29.54.

HP Price Performance

HPQ stock traded down $0.29 during mid-day trading on Thursday, reaching $24.81. 12,644,516 shares of the company's stock were exchanged, compared to its average volume of 6,388,695. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. The stock's 50 day moving average is $25.26 and its 200 day moving average is $27.71. 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 business 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 revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. On average, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) 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.