Gulf International Bank UK Ltd Sells 28,062 Shares of HP Inc. (NYSE:HPQ)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in HP Inc. by 33.8%, selling 28,062 shares, leaving it with 54,941 shares valued at approximately $1.52 million.
• HP reported $0.71 EPS in its latest quarterly earnings, missing analysts' estimates of $0.80, while its revenue increased by 3.3% year over year to $13.22 billion.
• The company declared a dividend of $0.2894, resulting in a yield of 4.3%, with the payment date set for October 1st.

Gulf International Bank UK Ltd lowered its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 33.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,941 shares of the computer maker's stock after selling 28,062 shares during the quarter. Gulf International Bank UK Ltd's holdings in HP were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new stake in shares of HP in the first quarter worth about $179,037,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of HP during the 4th quarter valued at about $63,612,000. Invesco Ltd. increased its holdings in shares of HP by 19.2% during the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock valued at $314,022,000 after acquiring an additional 1,829,411 shares during the last quarter. Northern Trust Corp increased its holdings in shares of HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after acquiring an additional 1,755,942 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of HP during the 4th quarter valued at about $55,915,000. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Trading Down 0.7%

Shares of HPQ stock opened at $26.96 on Friday. The stock has a 50 day moving average of $25.17 and a two-hundred day moving average of $27.22. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79. The company has a market capitalization of $25.32 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.20 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the prior year, the business posted $0.82 EPS. HP's revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.3%. HP's payout ratio is currently 44.79%.

Analyst Upgrades and Downgrades

HPQ has been the topic of a number of analyst reports. Barclays set a $28.00 price objective on HP and gave the company an "equal weight" rating in a report on Thursday, May 29th. Evercore ISI lowered 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. Citigroup lowered their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Bank of America lowered 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. Finally, JPMorgan Chase & Co. lowered their price objective on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, HP presently has an average rating of "Hold" and an average 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.

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