HP Inc. (NYSE:HPQ) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its stake in HP Inc. by 42.9%, now holding approximately 8.44 million shares valued at $233.79 million.
• HP reported $0.71 EPS for the last quarter, which missed the consensus estimate by $0.09, although revenue increased by 3.3% year-over-year.
• The company announced a quarterly dividend of $0.2894 per share, translating to an annualized yield of 4.51%.

Pacer Advisors Inc. reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 42.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,443,203 shares of the computer maker's stock after selling 6,333,494 shares during the quarter. Pacer Advisors Inc. owned about 0.90% of HP worth $233,792,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of HP during the fourth quarter valued at $211,000. Thrivent Financial for Lutherans grew its stake in HP by 4.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 66,878 shares of the computer maker's stock valued at $2,259,000 after purchasing an additional 2,650 shares during the last quarter. LPL Financial LLC increased its holdings in shares of HP by 6.4% in the fourth quarter. LPL Financial LLC now owns 415,970 shares of the computer maker's stock valued at $13,573,000 after purchasing an additional 25,169 shares during the period. Congress Wealth Management LLC DE raised its stake in shares of HP by 10.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 12,770 shares of the computer maker's stock worth $417,000 after purchasing an additional 1,199 shares during the last quarter. Finally, TIAA Trust National Association lifted its holdings in shares of HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock worth $548,000 after purchasing an additional 302 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Performance

HP stock opened at $25.69 on Friday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79. The firm has a 50 day moving average price of $25.61 and a 200 day moving average price of $27.98. The company has a market capitalization of $24.13 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27.

HP (NYSE:HPQ - Get Free Report) last issued 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). The business had revenue of $13.22 billion for 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%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. As a group, equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

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 dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.51%. HP's payout ratio is 44.79%.

Analysts Set New Price Targets

A number of research firms have issued reports on HPQ. Bank of America reduced their price target on shares of 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 downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Morgan Stanley cut their price target on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. Evercore ISI decreased their price objective on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.

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