Wealth Alliance LLC Takes Position in HP Inc. (NYSE:HPQ)

Wealth Alliance LLC acquired a new stake in HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,927 shares of the computer maker's stock, valued at approximately $303,000.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after buying an additional 579,525 shares in the last quarter. Northern Trust Corp grew 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 valued at $419,126,000 after buying an additional 1,755,942 shares in the last quarter. Invesco Ltd. grew its stake in shares of HP by 7.3% in the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock valued at $310,351,000 after buying an additional 643,192 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of HP by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock valued at $303,105,000 after buying an additional 707,742 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of HP in the fourth quarter valued at $229,320,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Performance

HP stock opened at $24.81 on Tuesday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a market capitalization of $23.31 billion, a P/E ratio of 9.58, a PEG ratio of 2.03 and a beta of 1.27. The stock has a 50-day simple moving average of $25.86 and a 200-day simple moving average of $28.13.

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 company had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The firm's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. As a group, analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business 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 dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is presently 44.79%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. lowered 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. KGI Securities assumed coverage on HP in a research note on Thursday, May 29th. They set a "neutral" rating for the company. Morgan Stanley lowered 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. Evercore ISI lowered their target price on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. 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 stock. According to MarketBeat, HP has a consensus rating of "Hold" and a consensus target price 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.

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