iA Global Asset Management Inc. Increases Stock Position in HP Inc. (NYSE:HPQ)

Key Points

• iA Global Asset Management Inc. increased its position in HP Inc. by 37.2%, now holding 71,867 shares valued at approximately $1.99 million.
• HP Inc. reported earnings per share of $0.71 for the last quarter, missing analysts' expectations by $0.09, even though revenue was up 3.3% year-over-year.
• The company will pay a quarterly dividend of $0.2894 per share on October 1st, reflecting a 4.6% yield with a payout ratio of 44.79%.

iA Global Asset Management Inc. boosted its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 37.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,867 shares of the computer maker's stock after buying an additional 19,501 shares during the quarter. iA Global Asset Management Inc.'s holdings in HP were worth $1,990,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HPQ. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of HP during the first quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP during the fourth quarter worth about $36,000. Iron Horse Wealth Management LLC bought a new position in HP in the 1st quarter valued at about $39,000. Financial Freedom LLC raised its position in shares of HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after buying an additional 878 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of HP by 165.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after acquiring an additional 947 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of recent analyst reports. Evercore ISI decreased their target price on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Morgan Stanley lowered their target price on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. Wells Fargo & Company cut their price target on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Finally, Barclays set a $28.00 price objective on shares of HP and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, HP presently has a consensus rating of "Hold" and a consensus target price of $29.54.

HP Stock Up 3.0%

HP stock traded up $0.76 during midday trading on Friday, hitting $26.11. 7,075,058 shares of the stock were exchanged, compared to its average volume of 7,198,939. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.79. The business's 50-day moving average price is $25.05 and its 200-day moving average price is $27.40. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. HP's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business 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. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.4%. HP's dividend payout ratio is presently 44.79%.

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.