Nisa Investment Advisors LLC Sells 141,343 Shares of HP Inc. (NYSE:HPQ)

Nisa Investment Advisors LLC decreased its position in HP Inc. (NYSE:HPQ - Free Report) by 22.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 490,287 shares of the computer maker's stock after selling 141,343 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.05% of HP worth $13,718,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of HP during the fourth quarter valued at about $211,000. Raymond James Financial Inc. purchased a new position in shares of HP during the fourth quarter valued at about $36,492,000. Daiwa Securities Group Inc. increased its position in shares of HP by 5.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 126,460 shares of the computer maker's stock valued at $4,126,000 after buying an additional 7,018 shares during the period. Independent Advisor Alliance increased its position in shares of HP by 7.1% during the fourth quarter. Independent Advisor Alliance now owns 41,114 shares of the computer maker's stock valued at $1,342,000 after buying an additional 2,736 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of HP by 9.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 14,486 shares of the computer maker's stock valued at $473,000 after buying an additional 1,247 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HPQ. Morgan Stanley cut their price objective on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. TD Cowen cut their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. JPMorgan Chase & Co. cut their price objective on shares of HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Evercore ISI dropped their target price on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One 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. Based on data from MarketBeat.com, HP has a consensus rating of "Hold" and an average price target of $29.54.

HP Trading Down 1.1%

HPQ traded down $0.29 during trading on Friday, hitting $25.44. 6,168,250 shares of the company traded hands, compared to its average volume of 7,956,265. The company has a market cap of $23.90 billion, a PE ratio of 9.82, a P/E/G ratio of 2.08 and a beta of 1.27. The stock's 50-day simple moving average is $26.00 and its two-hundred day simple moving average is $28.53. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80.

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

HP Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.55%. HP's payout ratio is currently 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.