LMG Wealth Partners LLC Purchases Shares of 34,218 HP Inc. (NYSE:HPQ)

LMG Wealth Partners LLC acquired a new position in HP Inc. (NYSE:HPQ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 34,218 shares of the computer maker's stock, valued at approximately $947,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC grew its position in HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after buying an additional 579,525 shares during the period. Gotham Asset Management LLC grew its position in shares of HP by 23.6% during the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock valued at $20,864,000 after acquiring an additional 122,289 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of HP during the 4th quarter worth approximately $9,481,000. BayBridge Capital Group LLC bought a new stake in shares of HP in the 1st quarter worth approximately $1,505,000. Finally, National Bank of Canada FI lifted its stake in HP by 71.7% in the fourth quarter. National Bank of Canada FI now owns 698,376 shares of the computer maker's stock valued at $22,788,000 after purchasing an additional 291,525 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. UBS Group decreased their price objective on HP from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Barclays set a $28.00 price objective on shares of HP and gave the company an "equal weight" rating in a report on Thursday, May 29th. Morgan Stanley reduced 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 note on Thursday, May 29th. Finally, Bank of America dropped their price target on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $29.54.

HP Trading Up 0.1%

Shares of HPQ traded up $0.04 during mid-day trading on Wednesday, reaching $24.56. 5,919,211 shares of the stock traded hands, compared to its average volume of 7,961,180. The company has a market cap of $23.06 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The firm has a fifty day moving average price of $25.95 and a 200 day moving average price of $28.32.

HP (NYSE:HPQ - Get Free Report) last posted 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 business had revenue of $13.22 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.71%. HP's 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.