Nuveen LLC Acquires Shares of 6,465,759 HP Inc. (NYSE:HPQ)

Key Points

• Nuveen LLC acquired a stake in HP Inc., purchasing 6,465,759 shares valued at approximately $179 million, representing about 0.69% of the company's stock.
• HP recently declared a quarterly dividend of $0.2894, translating to an annualized yield of 4.5%, with a payout ratio of 44.79%.
• The stock's performance is under scrutiny, with analysts giving it an average rating of "Hold" and a consensus price target of $29.54.

Nuveen LLC acquired a new stake in HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,465,759 shares of the computer maker's stock, valued at approximately $179,037,000. Nuveen LLC owned about 0.69% of HP at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. FIL Ltd boosted its position in HP by 75.9% in the 4th quarter. FIL Ltd now owns 15,920 shares of the computer maker's stock valued at $519,000 after buying an additional 6,870 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of HP during the fourth quarter worth about $36,492,000. Sterling Capital Management LLC lifted its position in shares of HP by 24.2% during the fourth quarter. Sterling Capital Management LLC now owns 75,066 shares of the computer maker's stock worth $2,449,000 after purchasing an additional 14,648 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of HP by 28.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 97,278 shares of the computer maker's stock worth $3,172,000 after purchasing an additional 21,646 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its position in shares of HP by 5.0% during the fourth quarter. SageView Advisory Group LLC now owns 8,919 shares of the computer maker's stock worth $291,000 after purchasing an additional 425 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Price Performance

NYSE HPQ opened at $25.56 on Tuesday. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79. The firm has a market capitalization of $24.00 billion, a PE ratio of 9.87, a P/E/G ratio of 2.11 and a beta of 1.29. The company's 50 day simple moving average is $25.06 and its 200 day simple moving average is $27.27.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter in the prior year, the business earned $0.82 EPS. HP's revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal 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 given a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.5%. HP's payout ratio is 44.79%.

Wall Street Analyst Weigh In

HPQ has been the topic of several research analyst reports. Barclays set a $28.00 price target on shares of HP and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Wells Fargo & Company reduced their price target on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley reduced their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, Evercore ISI dropped their price objective 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. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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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