Kintegral Advisory LLC Reduces Stake in HP Inc. (NYSE:HPQ)

Kintegral Advisory LLC trimmed its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,103 shares of the computer maker's stock after selling 13,292 shares during the quarter. Kintegral Advisory LLC's holdings in HP were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in HP in the fourth quarter valued at about $229,320,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in HP in the fourth quarter valued at about $63,612,000. Northern Trust Corp grew its stake in HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after purchasing an additional 1,755,942 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of HP during the fourth quarter worth about $55,915,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of HP during the fourth quarter worth about $50,957,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of HPQ traded down $0.65 during trading hours on Monday, hitting $25.36. 4,066,223 shares of the stock were exchanged, compared to its average volume of 7,928,742. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The company has a market cap of $23.82 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The stock's 50-day moving average price is $25.99 and its two-hundred day moving average price is $28.68.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 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 previous year, the firm posted $0.82 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently declared 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 dividend yield of 4.57%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is 44.79%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HPQ. Bank of America dropped their price target on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. decreased their price objective on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Citigroup decreased their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Finally, Evercore ISI decreased their price target on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.