HP Inc. (NYSE:HPQ) Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC lessened its stake in HP Inc. (NYSE:HPQ - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 285,259 shares of the computer maker's stock after selling 28,662 shares during the quarter. HP makes up approximately 1.0% of Philip James Wealth Mangement LLC's holdings, making the stock its 22nd biggest holding. Philip James Wealth Mangement LLC's holdings in HP were worth $7,899,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew 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 in the last quarter. Amundi increased its stake in HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker's stock valued at $217,319,000 after buying an additional 899,349 shares during the period. Gotham Asset Management LLC raised its position in shares of HP by 23.6% during 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of HP in the 4th quarter worth approximately $36,492,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of HP during the fourth quarter valued at approximately $9,481,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI lowered their price target on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Citigroup cut their price target 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. JPMorgan Chase & Co. lowered their price objective on shares of HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. TD Cowen dropped their target price 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. Finally, KGI Securities assumed coverage on shares of HP in a research report on Thursday, May 29th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $29.54.

HP Stock Performance

HP stock opened at $24.73 on Friday. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The firm has a market cap of $23.23 billion, a PE ratio of 9.55, a P/E/G ratio of 1.99 and a beta of 1.30. The firm's 50 day moving average price is $25.88 and its two-hundred day moving average price is $29.11.

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 the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. HP's revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is presently 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.

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