Stratos Wealth Advisors LLC lowered its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 86.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,801 shares of the computer maker's stock after selling 51,819 shares during the quarter. Stratos Wealth Advisors LLC's holdings in HP were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its position 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 worth $825,398,000 after buying an additional 579,525 shares in the last quarter. Gotham Asset Management LLC grew its position 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 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 during the fourth quarter worth approximately $36,492,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of HP during the fourth quarter worth approximately $9,481,000. Finally, BayBridge Capital Group LLC acquired a new stake in shares of HP during the first quarter worth approximately $1,505,000. Institutional investors and hedge funds own 77.53% of the company's stock.
HP Price Performance
NYSE:HPQ opened at $25.44 on Friday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The stock's 50-day moving average is $25.99 and its two-hundred day moving average is $28.48. The stock has a market cap of $23.90 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 2.08 and a beta of 1.27.
HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share 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 for the quarter, compared to analysts' expectations of $13.09 billion. During the same period last year, the firm earned $0.82 EPS. The company's revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.
HP Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.55%. HP's dividend payout ratio (DPR) is presently 44.79%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Wells Fargo & Company reduced their price objective on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Evercore ISI reduced their price objective on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, Bank of America reduced their price objective on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.54.
Check Out Our Latest Report on HP
HP Company Profile
(
Free Report)
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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