Patton Albertson Miller Group LLC Sells 61,129 Shares of HP Inc. (NYSE:HPQ)

Patton Albertson Miller Group LLC reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 32.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,239 shares of the computer maker's stock after selling 61,129 shares during the quarter. Patton Albertson Miller Group LLC's holdings in HP were worth $3,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in HPQ. Norges Bank bought a new stake in shares of HP in the 4th quarter worth approximately $229,320,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of HP in the 4th quarter worth approximately $63,612,000. Northern Trust Corp boosted its position in shares of HP by 15.8% in 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. Castlekeep Investment Advisors LLC bought a new position in HP in the 4th quarter valued at approximately $55,915,000. Finally, Freestone Grove Partners LP bought a new position in HP in the 4th quarter valued at approximately $50,957,000. 77.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America lowered their price objective on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley lowered their price objective on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price objective on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Finally, Evercore ISI lowered their price objective on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. 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. According to MarketBeat, HP presently has a consensus rating of "Hold" and an average target price of $29.54.

HP Stock Performance

Shares of HPQ stock opened at $24.75 on Friday. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80. The firm has a market capitalization of $23.24 billion, a PE ratio of 9.55, a PEG ratio of 1.99 and a beta of 1.27. The stock has a fifty day simple moving average of $25.89 and a two-hundred day simple moving average of $28.24.

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 for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The firm 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 company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. On average, sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed 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 is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.68%. HP's payout ratio is 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.

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