OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in HP Inc. (NYSE:HPQ - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,945 shares of the computer maker's stock, valued at approximately $790,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP in the 4th quarter valued at approximately $36,000. Iron Horse Wealth Management LLC acquired a new stake in HP in the 1st quarter valued at approximately $39,000. Financial Freedom LLC grew its holdings in HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after buying an additional 878 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock valued at $42,000 after buying an additional 947 shares during the last quarter. Finally, Global X Japan Co. Ltd. acquired a new stake in HP in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 77.53% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup lowered their target price on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Bank of America lowered their target price on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Barclays set a $28.00 target price on HP and gave the company an "equal weight" rating in a 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 given a buy rating to the company. Based on data from MarketBeat, HP presently has a consensus rating of "Hold" and a consensus price target of $29.54.
Check Out Our Latest Stock Report on HP
HP Stock Up 1.3%
HPQ traded up $0.31 during trading on Friday, hitting $25.06. The company's stock had a trading volume of 7,173,134 shares, compared to its average volume of 7,957,712. The firm's 50 day moving average price is $25.86 and its two-hundred day moving average price is $28.19. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 2.01 and a beta of 1.27.
HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.
HP Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.62%. HP's payout ratio is currently 44.79%.
About HP
(
Free Report)
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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