Brookstone Capital Management Has $9.66 Million Stake in HP Inc. (NYSE:HPQ)

Brookstone Capital Management boosted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 348,803 shares of the computer maker's stock after purchasing an additional 23,782 shares during the period. Brookstone Capital Management's holdings in HP were worth $9,658,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of HP during the 4th quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in HP during the fourth quarter worth $37,000. Financial Freedom LLC increased its holdings in HP by 141.4% during the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after buying an additional 878 shares during the last quarter. Golden State Wealth Management LLC raised its position in HP by 165.3% during the first quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after acquiring an additional 947 shares in the last quarter. Finally, Global X Japan Co. Ltd. acquired a new stake in HP in the first quarter valued at $43,000. 77.53% of the stock is currently owned by institutional investors.

HP Stock Up 0.6%

Shares of HPQ traded up $0.15 during midday trading on Friday, reaching $26.00. 4,740,176 shares of the stock were exchanged, compared to its average volume of 7,929,317. The stock's 50 day simple moving average is $25.99 and its 200 day simple moving average is $28.73. The company has a market cap of $24.42 billion, a P/E ratio of 10.04, a PEG ratio of 2.11 and a beta of 1.27. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. HP's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. As a group, analysts predict that HP Inc. will post 3.56 earnings per share for the current 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. This represents a $1.16 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is currently 44.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HPQ shares. Wells Fargo & Company lowered their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Bank of America reduced their price target on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Dbs Bank lowered HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Morgan Stanley cut their price objective on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. Finally, TD Cowen decreased their target price on HP from $38.00 to $28.00 and set a "hold" 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 company. According to data from MarketBeat, HP currently has an average rating of "Hold" and a consensus target price 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.