Mizuho Markets Americas LLC Acquires Shares of 223,022 HP Inc. (NYSE:HPQ)

Key Points

• Mizuho Markets Americas LLC has acquired a new stake in HP Inc., purchasing 223,022 shares valued at approximately $6.175 million.
• HP's quarterly earnings report showed an EPS of $0.71, missing estimates by $0.09, with revenue up by 3.3% year-over-year.
• Multiple analysts have downgraded HP's target price, with Citigroup lowering it from $29.00 to $27.50 and Wells Fargo from $35.00 to $25.00, contributing to a consensus rating of "Hold".

Mizuho Markets Americas LLC acquired a new stake in HP Inc. (NYSE:HPQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 223,022 shares of the computer maker's stock, valued at approximately $6,175,000.

Several other hedge funds also recently bought and sold shares of HPQ. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of HP in the 1st quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP in the 4th quarter worth $36,000. Iron Horse Wealth Management LLC purchased a new stake in shares of HP in the 1st quarter worth $39,000. Financial Freedom LLC lifted its holdings in shares of HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after buying an additional 878 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after buying an additional 947 shares during the period. Institutional investors own 77.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HPQ shares. Citigroup lowered their target price on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a report on Thursday, May 29th. Wells Fargo & Company decreased their price objective on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. UBS Group decreased their price objective on HP from $37.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Morgan Stanley decreased their price objective on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Finally, Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $29.54.

HP Trading Up 3.0%

Shares of NYSE:HPQ opened at $26.11 on Friday. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.79. The company's 50 day moving average is $25.05 and its 200 day moving average is $27.40. The company has a market cap of $24.52 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last issued 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). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the company posted $0.82 EPS. HP's quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is 44.79%.

About HP

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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