Vest Financial LLC Boosts Stock Position in HP Inc. (NYSE:HPQ)

Vest Financial LLC lifted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 63.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,383 shares of the computer maker's stock after purchasing an additional 15,989 shares during the quarter. Vest Financial LLC's holdings in HP were worth $1,146,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Citigroup reduced their target price on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a report on Thursday, May 29th. KGI Securities initiated coverage on HP in a report on Thursday, May 29th. They set a "neutral" rating on the stock. UBS Group reduced their target price on HP from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, HP has an average rating of "Hold" and an average target price of $29.54.

HP Stock Up 1.7%

Shares of NYSE:HPQ traded up $0.42 during midday trading on Tuesday, hitting $25.54. The stock had a trading volume of 9,361,953 shares, compared to its average volume of 7,871,321. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The company has a market cap of $23.98 billion, a P/E ratio of 9.09, a PEG ratio of 2.96 and a beta of 1.30. The business's 50-day simple moving average is $25.58 and its 200-day simple moving average is $30.10.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. As a group, equities analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

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

Insider Buying and Selling at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The shares were 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 owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently 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.