Northwest & Ethical Investments L.P. Has $4.76 Million Stock Position in HP Inc. $HPQ

Key Points

• Northwest & Ethical Investments L.P. has reduced its position in HP Inc. by 42.4%, now holding 171,875 shares valued at approximately $4.76 million.
• HP's stock is currently priced at $26.75 with a market cap of $25.13 billion and has missed earnings estimates in its latest report.
• The company announced a quarterly dividend of $0.2894 to be paid on October 1st, providing a yield of 4.3%.

Northwest & Ethical Investments L.P. reduced its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 42.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 171,875 shares of the computer maker's stock after selling 126,293 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in HP were worth $4,759,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HPQ. Nuveen LLC acquired a new position in HP during the 1st quarter worth approximately $179,037,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in HP during the 4th quarter worth approximately $63,612,000. Invesco Ltd. increased its holdings in HP by 19.2% during the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock worth $314,022,000 after purchasing an additional 1,829,411 shares in the last quarter. Northern Trust Corp increased its holdings in HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after purchasing an additional 1,755,942 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in HP during the 4th quarter worth approximately $55,915,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Down 0.7%

HPQ stock opened at $26.75 on Monday. The firm has a market cap of $25.13 billion, a PE ratio of 10.33, a P/E/G ratio of 2.16 and a beta of 1.29. The business has a 50 day moving average of $25.20 and a 200-day moving average of $27.10. 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 earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) 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 business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. On average, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 4.3%. HP's dividend payout ratio is presently 44.79%.

Analyst Ratings Changes

HPQ has been the subject of a number of recent research reports. 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 report on Thursday, May 29th. Bank of America decreased their price objective on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. TD Cowen decreased their price objective on HP from $38.00 to $28.00 and set a "hold" rating for the company in a report 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 report on Thursday, May 29th. Finally, Barclays set a $28.00 price objective on HP and gave the stock an "equal weight" rating in a report on Thursday, May 29th. 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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