Valeo Financial Advisors LLC Lowers Holdings in HP Inc. (NYSE:HPQ)

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

A number of other institutional investors have also added to or reduced their stakes in the stock. West Paces Advisors Inc. lifted its holdings in HP by 3.2% during the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after purchasing an additional 298 shares in the last quarter. TIAA Trust National Association lifted its holdings in HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock worth $548,000 after purchasing an additional 302 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock worth $374,000 after purchasing an additional 306 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its holdings in HP by 0.8% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 45,729 shares of the computer maker's stock worth $1,492,000 after purchasing an additional 384 shares in the last quarter. Finally, SageView Advisory Group LLC raised its holdings in shares of HP by 5.0% in the 4th quarter. SageView Advisory Group LLC now owns 8,919 shares of the computer maker's stock valued at $291,000 after acquiring an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on HPQ shares. JPMorgan Chase & Co. lowered their price target on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Evercore ISI lowered their price target on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company lowered their price target on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Bank of America lowered 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. Finally, Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $29.54.

HP Stock Performance

HPQ traded down $0.29 on Friday, hitting $25.44. 6,168,250 shares of the company were exchanged, compared to its average volume of 7,956,265. The firm has a fifty day simple moving average of $26.00 and a two-hundred day simple moving average of $28.53. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The stock has a market capitalization of $23.90 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 2.08 and a beta of 1.27.

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

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is presently 44.79%.

About HP

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.