Liberty Wealth Management LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Key Points

• Liberty Wealth Management LLC recently acquired 15,709 shares of HP Inc., valued at approximately $435,000, indicating growing institutional interest in the company.
• HP Inc. reported a quarterly earnings per share of $0.71, missing analysts' estimates, while revenue increased by 3.3% to $13.22 billion.
• The company declared a quarterly dividend of $0.2894 per share, representing a dividend yield of 4.7% and a payout ratio of 44.79%.

Liberty Wealth Management LLC bought a new position in HP Inc. (NYSE:HPQ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,709 shares of the computer maker's stock, valued at approximately $435,000.

Other large investors have also bought and sold shares of the company. J. Safra Sarasin Holding AG grew its stake in shares of HP by 37.8% in the first quarter. J. Safra Sarasin Holding AG now owns 59,721 shares of the computer maker's stock worth $1,654,000 after acquiring an additional 16,397 shares during the period. Bank of Nova Scotia grew its stake in shares of HP by 317.1% in the first quarter. Bank of Nova Scotia now owns 630,471 shares of the computer maker's stock worth $17,458,000 after acquiring an additional 479,320 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of HP in the first quarter worth approximately $790,000. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of HP by 7.6% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 102,720 shares of the computer maker's stock worth $2,855,000 after acquiring an additional 7,280 shares during the period. Finally, Blueshift Asset Management LLC grew its stake in shares of HP by 59.0% in the first quarter. Blueshift Asset Management LLC now owns 42,092 shares of the computer maker's stock worth $1,166,000 after acquiring an additional 15,612 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent research reports. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Citigroup cut their target price on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Bank of America cut their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Morgan Stanley cut their target price on shares of HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. Finally, TD Cowen cut their target price on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $29.54.

HP Price Performance

HPQ traded up $0.08 during trading hours on Tuesday, hitting $25.05. 6,280,277 shares of the stock were exchanged, compared to its average volume of 7,154,721. The stock has a 50-day simple moving average of $25.13 and a 200-day simple moving average of $27.53. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79. The stock has a market cap of $23.53 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29.

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

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.6%. HP's dividend payout ratio (DPR) is presently 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.