HP Inc. (NYSE:HPQ) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,049,867 shares of the computer maker's stock after buying an additional 11,993 shares during the quarter. Rhumbline Advisers owned about 0.22% of HP worth $56,761,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in shares of HP in the fourth quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP in the 4th quarter worth $36,000. OFI Invest Asset Management purchased a new position in shares of HP in the 4th quarter worth $37,000. CoreCap Advisors LLC increased its holdings in shares of HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after buying an additional 587 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of HP during the 4th quarter valued at about $50,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HPQ shares. Evercore ISI reduced their price objective on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Bank of America dropped 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. JPMorgan Chase & Co. cut 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, Morgan Stanley decreased their target price on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, HP has an average rating of "Hold" and a consensus price target of $29.54.

HP Stock Performance

NYSE:HPQ traded down $0.21 during trading hours on Wednesday, reaching $25.17. The company's stock had a trading volume of 12,720,475 shares, compared to its average volume of 7,834,898. The stock has a 50 day moving average price of $25.81 and a two-hundred day moving average price of $30.49. The company has a market capitalization of $23.73 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80.

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). HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. During the same quarter last year, the company earned $0.82 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $1.16 annualized dividend and a yield of 4.60%. HP's dividend payout ratio (DPR) is 44.40%.

Insiders Place Their Bets

In related news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

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.