Longfellow Investment Management Co. LLC Buys Shares of 22,635 HP Inc. (NYSE:HPQ)

Key Points

• Longfellow Investment Management has invested $627,000 in HP Inc. by purchasing 22,635 shares during the first quarter.
• HP recently reported quarterly earnings of $0.71 per share, missing estimates, and announced a dividend of $0.2894 payable on October 1st.
• Analyst ratings for HP have been mixed, with several firms lowering target prices, while Wall Street Zen upgraded HP to a "buy" rating.

Longfellow Investment Management Co. LLC bought a new position in HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,635 shares of the computer maker's stock, valued at approximately $627,000.

A number of other large investors have also bought and sold shares of the company. West Paces Advisors Inc. lifted its stake in HP by 3.2% during the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after purchasing an additional 298 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its stake in HP by 0.8% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 45,729 shares of the computer maker's stock worth $1,492,000 after purchasing an additional 384 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in HP by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 20,262 shares of the computer maker's stock worth $561,000 after purchasing an additional 411 shares during the last quarter. SageView Advisory Group LLC lifted its stake in HP by 5.0% during the fourth quarter. SageView Advisory Group LLC now owns 8,919 shares of the computer maker's stock worth $291,000 after purchasing an additional 425 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in HP by 3.9% during the fourth quarter. Rehmann Capital Advisory Group now owns 11,383 shares of the computer maker's stock worth $371,000 after purchasing an additional 428 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of HP stock traded down $0.19 during midday trading on Thursday, hitting $26.96. The company had a trading volume of 6,544,390 shares, compared to its average volume of 8,281,999. The stock has a market capitalization of $25.32 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.15 and a beta of 1.29. The company has a 50 day moving average of $25.13 and a 200 day moving average of $27.26. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly 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 company 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 business's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. Equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is currently 44.40%.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several analyst reports. Barclays set a $28.00 price objective on HP and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Citigroup decreased their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. UBS Group decreased their price objective on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Bank of America reduced their price target on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.