LSV Asset Management Trims Holdings in HP Inc. (NYSE:HPQ)

Key Points

• LSV Asset Management reduced its holdings in HP Inc. by 2.3%, now owning approximately 11.8 million shares worth about $326.6 million.
• Despite posting a 3.3% revenue increase to $13.22 billion, HP Inc. reported earnings per share of $0.71, missing analysts' expectations of $0.80.
• HP declared a quarterly dividend of $0.2894 per share, with an annual yield of 4.7% and a payout ratio of 44.40%.

LSV Asset Management trimmed its position in HP Inc. (NYSE:HPQ - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,793,580 shares of the computer maker's stock after selling 280,457 shares during the period. HP comprises about 0.8% of LSV Asset Management's investment portfolio, making the stock its 26th largest position. LSV Asset Management owned about 1.25% of HP worth $326,564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of HP during the 1st quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP during the 4th quarter worth about $36,000. Iron Horse Wealth Management LLC purchased a new position in shares of HP during the 1st quarter worth about $39,000. Financial Freedom LLC lifted its holdings 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 acquiring an additional 878 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of HP by 165.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after acquiring an additional 947 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Down 1.4%

Shares of NYSE:HPQ opened at $24.45 on Friday. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.79. The company has a 50 day moving average of $25.19 and a two-hundred day moving average of $27.65. The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 2.01 and a beta of 1.27.

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

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.7%. HP's dividend payout ratio (DPR) is presently 44.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. Citigroup cut their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company dropped their target price on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.

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