KBC Group NV Buys 658,080 Shares of HP Inc. (NYSE:HPQ)

KBC Group NV raised its holdings in HP Inc. (NYSE:HPQ - Free Report) by 18.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,214,069 shares of the computer maker's stock after purchasing an additional 658,080 shares during the period. KBC Group NV owned approximately 0.45% of HP worth $116,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of HP in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new position in shares of HP in the 4th quarter valued at approximately $37,000. CoreCap Advisors LLC raised its position in shares of HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock valued at $46,000 after buying an additional 587 shares in the last quarter. Financial Freedom LLC raised its position in shares of HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after buying an additional 878 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock valued at $42,000 after buying an additional 947 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Up 0.3%

NYSE HPQ traded up $0.07 on Friday, hitting $24.78. The company's stock had a trading volume of 13,831,875 shares, compared to its average volume of 7,868,515. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80. The company's 50-day moving average is $25.90 and its 200 day moving average is $29.00. The firm has a market cap of $23.27 billion, a PE ratio of 9.57, a PEG ratio of 2.01 and a beta of 1.30.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results 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). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the company posted $0.82 earnings per share. The company's revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 4.67%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is currently 44.79%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HPQ shares. Dbs Bank cut shares of HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. TD Cowen lowered their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price objective on shares of HP from $30.00 to $27.00 and set an "overweight" 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. Finally, Citigroup lowered 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. One equities research 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. According to MarketBeat.com, the stock currently has a consensus 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.