Northwestern Mutual Wealth Management Co. Invests $991,000 in HP Inc. $HPQ

Key Points

• Northwestern Mutual Wealth Management acquired 45,183 HP shares worth approximately $991,000 during the second quarter. Institutional investors collectively own 77.53% of HP’s outstanding stock.
• Analyst sentiment remains cautious: HP has an average “Reduce” rating and a consensus price target of $24.17, despite several recent target increases.
• HP reported quarterly earnings of $0.86 per share, beating estimates, while revenue rose 9% year over year to $14.41 billion. The company also declared a quarterly dividend of $0.30 per share, representing a 4.1% annualized yield.

Northwestern Mutual Wealth Management Co. acquired a new stake in HP Inc. (NYSE:HPQ - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,183 shares of the computer maker's stock, valued at approximately $991,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Garner Asset Management Corp purchased a new stake in HP in the 4th quarter worth approximately $25,000. SHP Wealth Management purchased a new position in shares of HP during the 4th quarter worth $26,000. Union Savings Bank purchased a new position in shares of HP during the 4th quarter worth $28,000. DV Equities LLC acquired a new stake in shares of HP during the fourth quarter worth $29,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of HP during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HPQ. Bank of America lifted their price objective on HP from $16.00 to $18.00 and gave the company an "underperform" rating in a research report on Thursday, May 28th. Citigroup increased their target price on HP from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. Morgan Stanley decreased their price target on HP from $19.00 to $17.00 and set an "underweight" rating on the stock in a research note on Monday. TD Cowen upped their price objective on shares of HP from $20.00 to $26.00 and gave the company a "hold" rating in a research note on Thursday, May 28th. Finally, UBS Group increased their price objective on shares of HP from $20.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $24.17.

Insider Buying and Selling

In other news, insider David P. Mcquarrie sold 21,048 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total value of $631,019.04. Following the transaction, the insider directly owned 39,580 shares in the company, valued at $1,186,608.40. This trade represents a 34.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,620 shares of company stock worth $1,478,622 in the last ninety days. Corporate insiders own 0.18% of the company's stock.

HP Stock Up 3.4%

Shares of NYSE HPQ opened at $29.56 on Wednesday. HP Inc. has a 52-week low of $17.56 and a 52-week high of $32.19. The firm has a fifty day moving average of $25.96 and a 200-day moving average of $22.55. The stock has a market capitalization of $27.04 billion, a PE ratio of 10.91, a P/E/G ratio of 4.74 and a beta of 1.17.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The business had revenue of $14.41 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the company posted $0.71 EPS. The business's quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts expect that HP Inc. will post 3.03 EPS for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. HP's payout ratio is 44.28%.

HP Company Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.

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