Tounjian Advisory Partners LLC Buys New Position in HP Inc. (NYSE:HPQ)

Tounjian Advisory Partners LLC bought a new stake in HP Inc. (NYSE:HPQ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,672 shares of the computer maker's stock, valued at approximately $766,000.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of HP during the fourth quarter valued at about $229,320,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in HP during the 4th quarter worth approximately $65,260,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of HP in the 4th quarter valued at about $63,612,000. Northern Trust Corp lifted its stake in shares of HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after acquiring an additional 1,755,942 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of HP in the 4th quarter valued at $55,915,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley decreased their target price on HP from $29.00 to $26.00 and set an "equal weight" rating for the company 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 report on Monday, May 12th. Wells Fargo & Company cut their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research report on Thursday, May 29th. JPMorgan Chase & Co. reduced their target price on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Finally, Bank of America cut their price target on 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, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, HP has a consensus rating of "Hold" and a consensus target price of $29.54.

HP Price Performance

Shares of HP stock traded up $0.42 during trading hours on Tuesday, hitting $25.54. 9,361,953 shares of the company's stock traded hands, compared to its average volume of 7,875,001. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.96 and a beta of 1.30. The company has a fifty day simple moving average of $25.58 and a 200-day simple moving average of $30.10. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 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 analysts' expectations of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 EPS. On average, analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.53%. HP's dividend payout ratio (DPR) is presently 44.40%.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

HP Company 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.