Allspring Global Investments Holdings LLC Sells 13,910 Shares of HP Inc. (NYSE:HPQ)

Allspring Global Investments Holdings LLC trimmed its stake in HP Inc. (NYSE:HPQ - Free Report) by 7.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 177,225 shares of the computer maker's stock after selling 13,910 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in HP were worth $4,925,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after purchasing an additional 579,525 shares in the last quarter. Amundi lifted its holdings in shares of HP by 15.9% during the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker's stock valued at $217,319,000 after purchasing an additional 899,349 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in shares of HP by 23.6% during the fourth quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock valued at $20,864,000 after purchasing an additional 122,289 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of HP during the fourth quarter valued at $36,492,000. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of HP during the fourth quarter valued at $9,481,000. 77.53% of the stock is owned by institutional investors.

HP Stock Up 1.8%

NYSE HPQ traded up $0.46 during trading hours on Tuesday, reaching $25.80. The company's stock had a trading volume of 7,986,866 shares, compared to its average volume of 7,944,622. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The firm's 50-day moving average price is $25.99 and its 200-day moving average price is $28.62. The company has a market capitalization of $24.23 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 2.05 and a beta of 1.27.

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 analysts' consensus estimates of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. During the same period last year, the business earned $0.82 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is currently 44.79%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HPQ. Bank of America reduced their price objective on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Citigroup reduced their price objective on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Morgan Stanley reduced 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, UBS Group reduced their price objective 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 investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, HP presently 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.