HP Inc. (NYSE:HPQ) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 66.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,100 shares of the computer maker's stock after selling 166,500 shares during the quarter. Hennessy Advisors Inc.'s holdings in HP were worth $2,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in HP by 3.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 254,092 shares of the computer maker's stock valued at $7,036,000 after acquiring an additional 8,910 shares during the last quarter. F&V Capital Management LLC increased its holdings in shares of HP by 0.7% in the first quarter. F&V Capital Management LLC now owns 331,306 shares of the computer maker's stock worth $9,174,000 after purchasing an additional 2,422 shares during the last quarter. Greenwood Capital Associates LLC lifted its position in shares of HP by 20.1% in the first quarter. Greenwood Capital Associates LLC now owns 42,853 shares of the computer maker's stock worth $1,187,000 after buying an additional 7,178 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in HP by 17.1% during the first quarter. Assenagon Asset Management S.A. now owns 389,775 shares of the computer maker's stock valued at $10,793,000 after buying an additional 56,819 shares during the last quarter. Finally, MV Capital Management Inc. grew its holdings in HP by 189.0% during the 1st quarter. MV Capital Management Inc. now owns 2,130 shares of the computer maker's stock valued at $59,000 after buying an additional 1,393 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Trading Down 0.6%

HPQ traded down $0.15 during midday trading on Thursday, hitting $24.15. 8,658,243 shares of the company were exchanged, compared to its average volume of 7,846,755. The company's 50 day simple moving average is $25.78 and its 200 day simple moving average is $29.60. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The company had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. HP's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. On average, equities 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 dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.79%.

Insider Buying and Selling at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now owns 169 shares in the company, valued at $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 Analyst Weigh In

Several equities research analysts have recently weighed in on HPQ shares. Barclays set a $28.00 target price on shares of HP and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Citigroup reduced their price target 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 dropped their price objective on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. 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 report on Thursday, May 29th. Finally, UBS Group decreased their target price on HP from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, HP currently 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.