Milestone Asset Management LLC Trims Stake in HP Inc. (NYSE:HPQ)

Milestone Asset Management LLC decreased its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 64.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,018 shares of the computer maker's stock after selling 36,768 shares during the period. Milestone Asset Management LLC's holdings in HP were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after buying an additional 579,525 shares during the period. Amundi boosted its holdings in HP by 15.9% in the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker's stock worth $217,319,000 after buying an additional 899,349 shares during the period. Gotham Asset Management LLC boosted its holdings in HP by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock worth $20,864,000 after buying an additional 122,289 shares during the period. Raymond James Financial Inc. bought a new position in HP in the 4th quarter worth $36,492,000. Finally, Resona Asset Management Co. Ltd. bought a new position in HP in the 4th quarter worth $9,481,000. Institutional investors own 77.53% of the company's stock.

HP Price Performance

Shares of NYSE HPQ traded up $0.46 during mid-day trading on Tuesday, hitting $25.37. 8,388,589 shares of the company's stock traded hands, compared to its average volume of 7,815,350. The company's 50-day moving average is $25.87 and its two-hundred day moving average is $30.53. The company has a market capitalization of $23.92 billion, a P/E ratio of 9.03, a PEG ratio of 2.96 and a beta of 1.32. 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 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). The business had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. Equities analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's dividend payout ratio is 44.40%.

Insider Activity

In related news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. This represents a 99.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HPQ. Citigroup dropped their target price on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a report on Thursday, May 29th. KGI Securities assumed coverage on shares of HP in a report on Thursday, May 29th. They issued a "neutral" rating for the company. Bank of America dropped their price objective on shares of HP from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Loop Capital dropped their price objective on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.