Swiss National Bank Decreases Stock Holdings in HP Inc. (NYSE:HPQ)

Key Points

• The Swiss National Bank reduced its stake in HP Inc. by 2.8%, owning approximately 2,645,000 shares after selling 77,500 shares in the first quarter of the year.
• HP reported $0.71 earnings per share for the last quarter, missing the analysts' expectation of $0.80 while achieving $13.22 billion in revenue, slightly above estimates.
• The company has declared a quarterly dividend of $0.2894 per share, with an ex-dividend date of September 10th, resulting in an annualized dividend yield of 4.4%.

Swiss National Bank reduced its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,645,000 shares of the computer maker's stock after selling 77,500 shares during the period. Swiss National Bank owned about 0.28% of HP worth $73,240,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of HP by 14.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,731,302 shares of the computer maker's stock worth $47,940,000 after purchasing an additional 221,876 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of HP during the 1st quarter worth $153,000. Deutsche Bank AG raised its stake in HP by 2.4% during the 1st quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker's stock worth $228,204,000 after acquiring an additional 189,969 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in HP during the 1st quarter worth $4,422,000. Finally, Harbor Island Capital LLC raised its stake in HP by 9.7% during the 1st quarter. Harbor Island Capital LLC now owns 387,455 shares of the computer maker's stock worth $10,729,000 after acquiring an additional 34,405 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

NYSE HPQ opened at $26.11 on Friday. The firm has a market cap of $24.52 billion, a PE ratio of 10.08, a P/E/G ratio of 2.11 and a beta of 1.29. HP Inc. has a one year low of $21.21 and a one year high of $39.79. The firm's fifty day moving average is $25.05 and its two-hundred day moving average is $27.36.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) 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 firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The company's revenue was up 3.3% compared to the same quarter last year. Research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is 44.79%.

Analyst Ratings Changes

HPQ has been the topic of several research analyst reports. Wells Fargo & Company cut their price target on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. 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 research note on Thursday, May 29th. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, TD Cowen cut their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus rating of "Hold" and a consensus target price 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.

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