National Bank of Canada FI Has $19.72 Million Holdings in HP Inc. (NYSE:HPQ)

Key Points

• National Bank of Canada FI increased its holdings in HP Inc. by 2.0%, purchasing an additional 13,654 shares and owning a total of 712,030 shares valued at approximately $19.7 million.
• HP's recent earnings report showed earnings per share (EPS) of $0.71, missing analysts' estimates of $0.80, while revenue increased by 3.3% year-over-year.
• The company declared a quarterly dividend of $0.2894 per share, representing an annualized yield of 4.4%, to be paid on October 1st.

National Bank of Canada FI lifted its position in HP Inc. (NYSE:HPQ - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 712,030 shares of the computer maker's stock after purchasing an additional 13,654 shares during the quarter. National Bank of Canada FI owned 0.08% of HP worth $19,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HPQ. Citigroup Inc. lifted its position in HP by 76.6% during the 1st quarter. Citigroup Inc. now owns 1,400,020 shares of the computer maker's stock valued at $38,767,000 after purchasing an additional 607,140 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in HP by 14.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,731,302 shares of the computer maker's stock valued at $47,940,000 after purchasing an additional 221,876 shares during the period. Headlands Technologies LLC acquired a new position in HP during the 1st quarter valued at about $153,000. Deutsche Bank AG lifted its position in HP by 2.4% during the 1st quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker's stock valued at $228,204,000 after purchasing an additional 189,969 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new position in HP during the 1st quarter valued at about $4,422,000. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Stock Performance

Shares of NYSE:HPQ traded down $0.29 during midday trading on Friday, hitting $26.65. 1,499,055 shares of the stock were exchanged, compared to its average volume of 8,236,511. The stock has a market capitalization of $25.03 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 2.20 and a beta of 1.29. The business's 50-day moving average price is $25.17 and its 200 day moving average price is $27.22. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79.

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 the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. During the same quarter last year, the firm posted $0.82 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently declared 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 of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.3%. HP's payout ratio is 44.79%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI cut their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. KGI Securities assumed coverage on shares of HP in a research report on Thursday, May 29th. They issued a "neutral" rating on the stock. Citigroup cut their price target on shares of HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Finally, UBS Group cut their price target 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. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $29.54.

HP Company 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.