HM Payson & Co. Decreases Stake in HP Inc. (NYSE:HPQ)

HM Payson & Co. lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 17.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 271,762 shares of the computer maker's stock after selling 55,499 shares during the quarter. HM Payson & Co.'s holdings in HP were worth $7,525,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HPQ. Norges Bank purchased a new stake in shares of HP during the 4th quarter worth approximately $229,320,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of HP during the 4th quarter worth approximately $63,612,000. Northern Trust Corp lifted its position 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 worth $419,126,000 after buying an additional 1,755,942 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of HP during the 4th quarter worth approximately $55,915,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of HP during the 4th quarter worth approximately $50,957,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of HPQ opened at $26.00 on Friday. The stock has a market capitalization of $24.42 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.11 and a beta of 1.27. The company's fifty day moving average is $25.99 and its two-hundred day moving average is $28.73. 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 announced its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm 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%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. Sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.45%. HP's dividend payout ratio (DPR) is presently 44.79%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HPQ. Citigroup reduced their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. KGI Securities assumed coverage on shares of HP in a report on Thursday, May 29th. They issued a "neutral" rating on the stock. Evercore ISI cut their target price on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Morgan Stanley cut their target price on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, HP has an average rating of "Hold" and an average price target of $29.54.

HP 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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