Maj Invest Holding A S Sells 276,265 Shares of HP Inc. (NYSE:HPQ)

Maj Invest Holding A S trimmed its stake in HP Inc. (NYSE:HPQ - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,781,754 shares of the computer maker's stock after selling 276,265 shares during the period. HP accounts for about 4.8% of Maj Invest Holding A S's investment portfolio, making the stock its 11th largest position. Maj Invest Holding A S owned approximately 0.51% of HP worth $132,407,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of HP in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management bought a new position in HP in the 4th quarter worth $37,000. CoreCap Advisors LLC raised its holdings in HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after acquiring an additional 587 shares during the period. Financial Freedom LLC increased its stake in shares of HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after purchasing an additional 878 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of HP by 165.3% in the first quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after purchasing an additional 947 shares during the period. 77.53% of the stock is owned by institutional investors.

HP Stock Performance

Shares of HPQ stock traded down $0.64 during trading hours on Monday, hitting $25.36. The company had a trading volume of 6,715,205 shares, compared to its average volume of 7,938,713. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The firm has a market capitalization of $23.82 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 2.11 and a beta of 1.27. The firm's fifty day moving average is $25.99 and its 200 day moving average is $28.68.

HP (NYSE:HPQ - Get Free Report) last announced 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 net margin of 4.64% and a negative return on equity of 244.99%. The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter last year, the company earned $0.82 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 4.56%. HP's dividend payout ratio (DPR) is presently 44.79%.

Analyst Ratings Changes

Several research analysts have commented on HPQ shares. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Citigroup dropped their price target on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Barclays set a $28.00 target price on shares of HP and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. UBS Group dropped their target price on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Finally, Evercore ISI dropped their price objective on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $29.54.

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.