SG Americas Securities LLC Acquires 176,781 Shares of HP Inc. (NYSE:HPQ)

SG Americas Securities LLC lifted its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 1,202.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 191,478 shares of the computer maker's stock after buying an additional 176,781 shares during the period. SG Americas Securities LLC's holdings in HP were worth $5,302,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of HPQ. Stonebridge Financial Group LLC acquired a new position in HP during the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of HP during the 4th quarter valued at approximately $36,000. OFI Invest Asset Management bought a new position in HP in the 4th quarter valued at approximately $37,000. CoreCap Advisors LLC boosted its position in HP by 71.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock valued at $46,000 after buying an additional 587 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of HP during the fourth quarter worth $55,000. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

Shares of NYSE HPQ traded down $0.89 during midday trading on Friday, reaching $23.85. The stock had a trading volume of 7,081,796 shares, compared to its average volume of 7,855,523. The company's 50 day moving average price is $25.69 and its 200 day moving average price is $29.93. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30.

HP (NYSE:HPQ - Get Free Report) last released its earnings results 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 firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. Equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

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 paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.40%.

Insiders Place Their Bets

In related news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The shares were 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 of the company's stock, valued at $4,814.81. This represents a 99.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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 report on Thursday, May 29th. Evercore ISI dropped their target price on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Loop Capital reduced their price target on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company dropped their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. Finally, KGI Securities started coverage on shares of HP in a report on Thursday, May 29th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, HP presently has an average rating of "Hold" and an average target price of $29.54.

About HP

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.