J. Safra Sarasin Holding AG Raises Stock Holdings in HP Inc. (NYSE:HPQ)

Key Points

• J. Safra Sarasin Holding AG has increased its stake in HP Inc. by 37.8%, bringing its total holdings to approximately $1.65 million after acquiring 16,397 additional shares.
• HP recently missed earnings expectations with reported earnings of $0.71 per share against the consensus estimate of $0.80, although its quarterly revenue of $13.22 billion exceeded projections.
• The company has announced a quarterly dividend of $0.2894, which will be paid on October 1, with a current yield of 4.7% and a dividend payout ratio of 44.79%.

J. Safra Sarasin Holding AG raised its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 37.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,721 shares of the computer maker's stock after buying an additional 16,397 shares during the period. J. Safra Sarasin Holding AG's holdings in HP were worth $1,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in HP in the fourth quarter valued at about $63,612,000. Northern Trust Corp grew its stake in shares of HP by 15.8% during the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after purchasing an additional 1,755,942 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of HP during the fourth quarter valued at approximately $55,915,000. Freestone Grove Partners LP bought a new stake in shares of HP during the fourth quarter valued at approximately $50,957,000. Finally, Bridgewater Associates LP grew its stake in shares of HP by 115.2% during the fourth quarter. Bridgewater Associates LP now owns 2,837,252 shares of the computer maker's stock valued at $92,580,000 after purchasing an additional 1,518,653 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of analyst reports. Evercore ISI decreased their price objective on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. UBS Group reduced their target price on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. TD Cowen dropped their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company dropped their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, HP currently has an average rating of "Hold" and an average price target of $29.54.

HP Stock Up 0.3%

HPQ traded up $0.08 during trading on Tuesday, hitting $25.05. 6,280,277 shares of the company's stock were exchanged, compared to its average volume of 7,154,721. The business's 50 day moving average is $25.13 and its two-hundred day moving average is $27.53. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79. The stock has a market cap of $23.53 billion, a P/E ratio of 9.67, a PEG ratio of 2.02 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. On average, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is currently 44.79%.

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.