Meeder Asset Management Inc. Has $614,000 Stock Position in HP Inc. (NYSE:HPQ)

Key Points

• Meeder Asset Management Inc. increased its stake in HP Inc. by 173.6%, now holding 22,180 shares worth approximately $614,000.
• Several institutional investors have also significantly altered their positions in HP, with 77.53% of the stock now owned by institutional investors.
• HP's recent earnings report showed a missed EPS estimate at $0.71, compared to the consensus of $0.80, although revenue was up 3.3% year-over-year.

Meeder Asset Management Inc. grew its holdings in HP Inc. (NYSE:HPQ - Free Report) by 173.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,180 shares of the computer maker's stock after buying an additional 14,072 shares during the quarter. Meeder Asset Management Inc.'s holdings in HP were worth $614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP in the fourth quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in HP in the first quarter worth about $35,000. CoreCap Advisors LLC increased its position in HP by 71.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after purchasing an additional 587 shares during the period. Iron Horse Wealth Management LLC acquired a new stake in HP in the first quarter worth about $39,000. Finally, Financial Freedom LLC increased its position in 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. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America reduced their target price on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. TD Cowen reduced their target price on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company reduced their target price on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. JPMorgan Chase & Co. reduced their target price on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Finally, KGI Securities assumed coverage on HP in a report on Thursday, May 29th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.54.

HP Trading Down 1.4%

Shares of NYSE:HPQ traded down $0.35 during trading on Friday, hitting $24.45. 7,929,429 shares of the company's stock traded hands, compared to its average volume of 6,783,987. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.79. The company has a market cap 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 1.29. The company has a 50-day moving average price of $25.26 and a 200-day moving average price of $27.71.

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

HP Announces Dividend

The company 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 $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.7%. 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.