Mizuho Securities USA LLC Sells 16,250 Shares of HP Inc. (NYSE:HPQ)

Key Points

• Mizuho Securities USA LLC reduced its holdings in HP Inc. by 17.8%, now owning 75,089 shares worth approximately $2,079,000 after selling 16,250 shares in the first quarter.
• HP's recent earnings report showed earnings per share of $0.71, missing analyst expectations of $0.80, despite a 3.3% year-over-year revenue increase to $13.22 billion.
• The company announced a quarterly dividend of $0.2894 per share, representing an annualized yield of 4.5%, with the payment scheduled for October 1st.

Mizuho Securities USA LLC lessened its holdings in HP Inc. (NYSE:HPQ - Free Report) by 17.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 75,089 shares of the computer maker's stock after selling 16,250 shares during the period. Mizuho Securities USA LLC's holdings in HP were worth $2,079,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HPQ. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in HP in the first quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP in the fourth quarter worth about $36,000. Iron Horse Wealth Management LLC acquired a new position in HP in the first quarter worth approximately $39,000. Financial Freedom LLC lifted its position 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 in the last quarter. 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 valued at $42,000 after buying an additional 947 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America dropped their price objective 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. Citigroup dropped 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 HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley cut their target price on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 29th. Finally, Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.54.

HP Stock Performance

HP stock traded down $0.29 during mid-day trading on Friday, hitting $26.65. The company's stock had a trading volume of 3,141,626 shares, compared to its average volume of 8,247,753. The stock has a market cap of $25.03 billion, a PE ratio of 10.28, a P/E/G ratio of 2.20 and a beta of 1.29. HP Inc. has a one year low of $21.21 and a one year high of $39.79. The company has a 50 day moving average of $25.17 and a 200-day moving average of $27.22.

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 the consensus estimate of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The firm 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 firm posted $0.82 EPS. The company's revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a dividend yield of 4.3%. HP's dividend payout ratio (DPR) is 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.