HP Inc. (NYSE:HPQ) Stock Position Lifted by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in HP Inc. (NYSE:HPQ - Free Report) by 3,307.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 433,708 shares of the computer maker's stock after purchasing an additional 420,981 shares during the quarter. GAMMA Investing LLC's holdings in HP were worth $120,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HPQ. Stonebridge Financial Group LLC acquired a new stake in HP during the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP during the fourth quarter worth about $36,000. OFI Invest Asset Management acquired a new stake in HP during the fourth quarter worth about $37,000. CoreCap Advisors LLC increased its stake in HP by 71.9% during the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after acquiring an additional 587 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in HP during the fourth quarter worth about $50,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

HPQ traded down $0.51 on Thursday, reaching $24.67. The company's stock had a trading volume of 12,249,354 shares, compared to its average volume of 7,844,142. The stock has a market cap of $23.26 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The business's 50 day moving average is $25.69 and its 200 day moving average is $30.37.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. As a group, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's dividend payout ratio is currently 44.40%.

Insider Activity at HP

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HPQ shares. Bank of America dropped their price target on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. JPMorgan Chase & Co. dropped their price target on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Wells Fargo & Company dropped their price target on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. TD Cowen decreased their target price on HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Finally, Loop Capital decreased their target price on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $29.54.

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.