IFM Investors Pty Ltd Grows Position in HP Inc. (NYSE:HPQ)

IFM Investors Pty Ltd boosted its holdings in HP Inc. (NYSE:HPQ - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,297 shares of the computer maker's stock after acquiring an additional 16,531 shares during the quarter. IFM Investors Pty Ltd's holdings in HP were worth $5,934,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC increased its holdings in shares of HP by 10.8% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,068 shares of the computer maker's stock valued at $279,000 after purchasing an additional 985 shares in the last quarter. Calamos Advisors LLC increased its holdings in shares of HP by 1.1% in the 1st quarter. Calamos Advisors LLC now owns 252,343 shares of the computer maker's stock valued at $6,987,000 after purchasing an additional 2,810 shares in the last quarter. Conning Inc. increased its holdings in HP by 16.0% in the first quarter. Conning Inc. now owns 1,173,130 shares of the computer maker's stock valued at $32,484,000 after buying an additional 162,175 shares in the last quarter. Principal Financial Group Inc. increased its holdings in HP by 1.3% in the first quarter. Principal Financial Group Inc. now owns 1,137,381 shares of the computer maker's stock valued at $31,494,000 after buying an additional 14,296 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in HP by 15.0% in the first quarter. Mutual Advisors LLC now owns 64,433 shares of the computer maker's stock valued at $1,629,000 after buying an additional 8,387 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Trading Up 0.6%

Shares of NYSE HPQ traded up $0.15 during midday trading on Friday, reaching $26.00. 4,740,176 shares of the stock were exchanged, compared to its average volume of 7,943,629. The company has a market capitalization of $24.42 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.11 and a beta of 1.27. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80. The stock has a 50 day moving average price of $25.99 and a 200-day moving average price of $28.70.

HP (NYSE:HPQ - Get Free Report) last released its 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). The firm 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%. The firm's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is currently 44.79%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. KGI Securities began coverage on shares of HP in a report on Thursday, May 29th. They issued a "neutral" rating for the company. Evercore ISI dropped their price target on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company dropped their price target on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. UBS Group dropped their target price on shares of HP from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Finally, Barclays set a $28.00 target price on shares of HP and gave the company an "equal weight" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, HP currently 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.