Spire Wealth Management Sells 140,176 Shares of HP Inc. (NYSE:HPQ)

Spire Wealth Management decreased its holdings in HP Inc. (NYSE:HPQ - Free Report) by 97.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,292 shares of the computer maker's stock after selling 140,176 shares during the quarter. Spire Wealth Management's holdings in HP were worth $91,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in HP during the fourth quarter valued at $36,000. OFI Invest Asset Management bought a new stake in shares of HP during the 4th quarter valued at about $37,000. Financial Freedom LLC increased its position in shares of HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after purchasing an additional 878 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in shares of HP in the 1st quarter worth approximately $43,000. Finally, CoreCap Advisors LLC lifted its stake 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 purchasing an additional 587 shares during the period. Institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of HP stock traded up $0.29 during trading hours on Thursday, hitting $26.14. The company's stock had a trading volume of 1,618,568 shares, compared to its average volume of 7,901,765. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The business has a 50 day moving average price of $25.96 and a two-hundred day moving average price of $28.84. The company has a market cap of $24.55 billion, a PE ratio of 10.09, a PEG ratio of 2.07 and a beta of 1.27.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the previous 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, research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.79%.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of research reports. Barclays set a $28.00 target price on shares of HP and gave the company an "equal weight" rating in a report on Thursday, May 29th. TD Cowen cut their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Citigroup decreased 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. Evercore ISI lowered their target price on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, KGI Securities assumed coverage on HP in a research report on Thursday, May 29th. They issued a "neutral" rating for the company. One equities 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. According to data from MarketBeat, the company has a consensus 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.