Machina Capital S.A.S. Takes Position in HP Inc. (NYSE:HPQ)

Key Points

• Machina Capital S.A.S. has invested $307,000 in HP Inc. by acquiring 11,101 shares during the first quarter.
• HP recently reported a quarterly earnings per share (EPS) of $0.71, missing estimates by $0.09, despite a revenue increase of 3.3% compared to the last year.
• The company announced a quarterly dividend of $0.2894, resulting in an annualized yield of 4.51% and a payout ratio of 44.79%.

Machina Capital S.A.S. bought a new position in shares of HP Inc. (NYSE:HPQ - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 11,101 shares of the computer maker's stock, valued at approximately $307,000.

Several other institutional investors also recently made changes to their positions in HPQ. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of HP in the 1st quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP in the 4th quarter worth about $36,000. Iron Horse Wealth Management LLC purchased a new stake in shares of HP in the 1st quarter worth about $39,000. Financial Freedom LLC raised its stake in HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after purchasing an additional 878 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock valued at $42,000 after purchasing an additional 947 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HPQ has been the subject of several analyst reports. Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. 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 note 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 note on Thursday, May 29th. TD Cowen dropped their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. Finally, Wells Fargo & Company dropped their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $29.54.

HP Price Performance

NYSE HPQ traded down $0.03 on Friday, reaching $25.67. The company had a trading volume of 6,327,158 shares, compared to its average volume of 7,437,534. The firm has a market capitalization 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 1 year low of $21.21 and a 1 year high of $39.79. The firm has a 50-day moving average of $25.54 and a 200-day moving average of $27.89.

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). 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 firm's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. As a group, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

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

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.