HP Inc. (NYSE:HPQ) Shares Sold by Stevens Capital Management LP

Key Points

• Stevens Capital Management LP reduced its stake in HP Inc. by 57.7%, selling 12,824 shares and holding 9,413 shares valued at approximately $261,000 as of its recent SEC filing.
• HP's quarterly earnings report indicated an EPS of $0.71, missing analysts' estimates of $0.80, despite a 3.3% year-over-year revenue increase to $13.22 billion.
• The company announced a quarterly dividend of $0.2894 per share, which equates to an annualized yield of 4.51% with a payout ratio of 44.79%.

Stevens Capital Management LP lowered its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 57.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,413 shares of the computer maker's stock after selling 12,824 shares during the quarter. Stevens Capital Management LP's holdings in HP were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Trilogy Capital Inc. increased its stake in shares of HP by 5.3% during the 1st quarter. Trilogy Capital Inc. now owns 88,274 shares of the computer maker's stock valued at $2,444,000 after acquiring an additional 4,410 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of HP by 14.6% during the 1st quarter. Cetera Investment Advisers now owns 165,042 shares of the computer maker's stock valued at $4,570,000 after acquiring an additional 21,033 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of HP by 17.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 57,357 shares of the computer maker's stock valued at $1,588,000 after acquiring an additional 8,358 shares during the last quarter. One Wealth Advisors LLC increased its position in HP by 35.4% during the 1st quarter. One Wealth Advisors LLC now owns 30,310 shares of the computer maker's stock worth $846,000 after purchasing an additional 7,917 shares in the last quarter. Finally, Lifeworks Advisors LLC raised its holdings in HP by 10.4% in the first quarter. Lifeworks Advisors LLC now owns 117,475 shares of the computer maker's stock valued at $3,253,000 after buying an additional 11,102 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Stock Down 0.1%

Shares of HPQ traded down $0.03 during mid-day trading on Friday, reaching $25.67. 6,327,158 shares of the stock traded hands, compared to its average volume of 7,062,307. The firm has a market cap of $24.11 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 2.08 and a beta of 1.27. The stock has a fifty day simple moving average of $25.54 and a 200 day simple moving average of $27.85. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results 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 244.99% and a net margin of 4.64%. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the business posted $0.82 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is currently 44.79%.

Analysts Set New Price Targets

HPQ has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. UBS Group cut their price target on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Citigroup cut their price target on shares of HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. Finally, Bank of America cut their price target on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.54.

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.