Invesco Ltd. Raises Position in HP Inc. (NYSE:HPQ)

Key Points

• Invesco Ltd. increased its holdings in HP Inc. by 19.2% in the first quarter, owning approximately 1.20% of the company, which is valued at about $314 million.
• HP recently reported earnings of $0.71 per share, missing the consensus estimate by $0.09, while revenue rose 3.3% year-over-year.
• The company announced a quarterly dividend of $0.2894 per share, representing an annualized yield of 4.5%, with the payment date set for October 1st.

Invesco Ltd. grew its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 19.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,340,629 shares of the computer maker's stock after purchasing an additional 1,829,411 shares during the quarter. Invesco Ltd. owned approximately 1.20% of HP worth $314,022,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of HP during the 1st quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP during the 4th quarter worth $36,000. Iron Horse Wealth Management LLC purchased a new position in shares of HP during the 1st quarter worth $39,000. Financial Freedom LLC lifted its stake in shares of HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after purchasing an additional 878 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after buying an additional 947 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their target price on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley cut 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. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. TD Cowen cut their target price on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Finally, Bank of America cut their target price on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $29.54.

HP Price Performance

Shares of HP stock opened at $25.56 on Tuesday. The business has a 50-day moving average of $25.06 and a 200-day moving average of $27.27. The company has a market capitalization of $24.00 billion, a PE ratio of 9.87, a P/E/G ratio of 2.11 and a beta of 1.29. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.79.

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

HP Announces Dividend

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 paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is 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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