TD Asset Management Inc Sells 14,778 Shares of HP Inc. (NYSE:HPQ)

TD Asset Management Inc reduced its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 509,286 shares of the computer maker's stock after selling 14,778 shares during the period. TD Asset Management Inc owned approximately 0.05% of HP worth $14,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HPQ. Geode Capital Management LLC lifted its position in HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after buying an additional 579,525 shares in the last quarter. Gotham Asset Management LLC increased its position in HP by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock worth $20,864,000 after purchasing an additional 122,289 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of HP during the 4th quarter valued at about $9,481,000. BayBridge Capital Group LLC acquired a new stake in HP in the first quarter valued at approximately $1,505,000. Finally, National Bank of Canada FI grew its position in HP by 71.7% in the fourth quarter. National Bank of Canada FI now owns 698,376 shares of the computer maker's stock worth $22,788,000 after acquiring an additional 291,525 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HPQ shares. Morgan Stanley reduced their price objective on shares of HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Barclays set a $28.00 target price on HP and gave the company an "equal weight" rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. dropped their price target on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Evercore ISI reduced their price objective on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Dbs Bank cut shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, HP has an average rating of "Hold" and an average price target of $29.54.

HP Price Performance

Shares of HP stock traded down $0.35 during midday trading on Friday, hitting $24.45. 7,929,429 shares of the company were exchanged, compared to its average volume of 6,783,987. The firm has a 50 day simple moving average of $25.26 and a 200-day simple moving average of $27.71. The firm has a market cap of $22.97 billion, a P/E ratio of 9.44, a PEG ratio of 2.01 and a beta of 1.29. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.79.

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 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 company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the company earned $0.82 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a yield of 4.7%. HP's dividend payout ratio (DPR) is presently 44.79%.

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.