Lifeworks Advisors LLC Buys 11,102 Shares of HP Inc. (NYSE:HPQ)

Lifeworks Advisors LLC increased its stake in HP Inc. (NYSE:HPQ - Free Report) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,475 shares of the computer maker's stock after acquiring an additional 11,102 shares during the period. Lifeworks Advisors LLC's holdings in HP were worth $3,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of HPQ. Norges Bank bought a new stake in shares of HP in the 4th quarter valued at about $229,320,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in HP during the 4th quarter valued at about $63,612,000. Northern Trust Corp increased its holdings in HP by 15.8% during the 4th 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 period. Castlekeep Investment Advisors LLC purchased a new position in HP during the 4th quarter valued at about $55,915,000. Finally, Freestone Grove Partners LP purchased a new position in HP during the 4th quarter valued at about $50,957,000. Institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HPQ shares. TD Cowen reduced their price target on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Citigroup reduced their target price on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Bank of America reduced their target price on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Morgan Stanley reduced their target price on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Finally, UBS Group reduced their target price on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $29.54.

HP Trading Down 0.1%

HPQ stock traded down $0.03 during midday trading on Friday, hitting $25.67. The company's stock had a trading volume of 6,327,158 shares, compared to its average volume of 7,437,534. The company has a market cap of $24.11 billion, a PE ratio of 9.91, a P/E/G ratio of 2.08 and a beta of 1.27. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79. The firm's 50-day moving average is $25.54 and its 200-day moving average is $27.89.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business 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 revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. Analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a dividend yield of 4.51%. HP's payout ratio is 44.40%.

About HP

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.