Valeo Financial Advisors LLC Sells 16,831 Shares of HP Inc. (NYSE:HPQ)

Valeo Financial Advisors LLC reduced its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 48.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,041 shares of the computer maker's stock after selling 16,831 shares during the quarter. Valeo Financial Advisors LLC's holdings in HP were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of HPQ. Proficio Capital Partners LLC acquired a new position in HP during the fourth quarter worth $211,000. Raymond James Financial Inc. acquired a new position in shares of HP during the 4th quarter worth $36,492,000. Daiwa Securities Group Inc. raised its stake in HP by 5.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 126,460 shares of the computer maker's stock valued at $4,126,000 after purchasing an additional 7,018 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of HP by 7.1% during the 4th quarter. Independent Advisor Alliance now owns 41,114 shares of the computer maker's stock valued at $1,342,000 after acquiring an additional 2,736 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of HP by 9.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 14,486 shares of the computer maker's stock worth $473,000 after purchasing an additional 1,247 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of NYSE HPQ traded down $0.59 during trading on Monday, reaching $24.83. The stock had a trading volume of 9,439,760 shares, compared to its average volume of 7,967,654. HP Inc. has a one year low of $21.21 and a one year high of $39.80. The stock has a market cap of $23.32 billion, a PE ratio of 9.59, a P/E/G ratio of 2.06 and a beta of 1.27. The firm's 50 day moving average price is $25.99 and its two-hundred day moving average price is $28.41.

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

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.66%. HP's dividend payout ratio (DPR) is presently 44.40%.

Analysts Set New Price Targets

HPQ has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on 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 raised HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Citigroup reduced their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Finally, TD Cowen lowered their target price on 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 given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $29.54.

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.