XTX Topco Ltd Takes Position in HP Inc. (NYSE:HPQ)

Key Points

• XTX Topco Ltd made a new investment of $417,000 in HP Inc. during the first quarter, acquiring 15,070 shares of the company.
• Despite showing 3.3% year-over-year revenue growth, HP reported an EPS of $0.71, missing analyst expectations of $0.80.
• HP’s quarterly dividend of $0.2894 will be paid on October 1st, translating to an annual yield of 4.4%.

XTX Topco Ltd purchased a new position in HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,070 shares of the computer maker's stock, valued at approximately $417,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in HP in the fourth quarter worth $63,612,000. Northern Trust Corp lifted its position in HP by 15.8% during 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 during the period. Castlekeep Investment Advisors LLC purchased a new position in HP during the fourth quarter valued at $55,915,000. Freestone Grove Partners LP purchased a new position in HP during the fourth quarter valued at $50,957,000. Finally, Bridgewater Associates LP lifted its position in HP by 115.2% during the fourth quarter. Bridgewater Associates LP now owns 2,837,252 shares of the computer maker's stock valued at $92,580,000 after buying an additional 1,518,653 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent research reports. Citigroup lowered their price objective on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Barclays set a $28.00 price objective on HP and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Evercore ISI lowered their price target on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research 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 for the company in a research report on Thursday, May 29th. Finally, Bank of America lowered their price target on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $29.54.

HP Stock Performance

HPQ stock traded up $0.76 during midday trading on Friday, reaching $26.11. The company's stock had a trading volume of 7,075,058 shares, compared to its average volume of 7,244,237. The stock has a fifty day simple moving average of $25.05 and a two-hundred day simple moving average of $27.32. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79. The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 2.11 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $13.09 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a dividend yield of 4.4%. HP's dividend payout ratio (DPR) is currently 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.