Hennion & Walsh Asset Management Inc. lowered its position in HP Inc. (NYSE:HPQ – Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,309 shares of the computer maker’s stock after selling 3,784 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in HP were worth $1,066,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. FourThought Financial LLC grew its position in shares of HP by 5.4% during the 3rd quarter. FourThought Financial LLC now owns 7,052 shares of the computer maker’s stock valued at $176,000 after acquiring an additional 363 shares during the period. Glassman Wealth Services raised its stake in shares of HP by 24.8% in the fourth quarter. Glassman Wealth Services now owns 1,869 shares of the computer maker’s stock worth $50,000 after buying an additional 372 shares during the period. KCM Investment Advisors LLC lifted its position in shares of HP by 4.4% during the 1st quarter. KCM Investment Advisors LLC now owns 9,551 shares of the computer maker’s stock valued at $347,000 after buying an additional 400 shares in the last quarter. Empirical Finance LLC grew its stake in shares of HP by 1.4% during the 1st quarter. Empirical Finance LLC now owns 30,771 shares of the computer maker’s stock valued at $903,000 after acquiring an additional 428 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in HP by 53.3% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,295 shares of the computer maker’s stock worth $35,000 after acquiring an additional 450 shares in the last quarter. Institutional investors own 76.18% of the company’s stock.
Analyst Upgrades and Downgrades
HPQ has been the topic of several recent analyst reports. StockNews.com downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. UBS Group increased their target price on HP from $30.00 to $31.00 in a research report on Wednesday, May 31st. Citigroup initiated coverage on HP in a report on Thursday, June 29th. They issued a “neutral” rating and a $32.00 price target on the stock. Bank of America increased their price objective on shares of HP from $26.00 to $27.00 in a report on Wednesday, May 31st. Finally, JPMorgan Chase & Co. raised shares of HP from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $35.00 in a report on Monday, April 17th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and an average price target of $29.88.
HP Price Performance
HP (NYSE:HPQ – Free Report) last released its quarterly earnings results on Tuesday, May 30th. The computer maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. HP had a negative return on equity of 121.57% and a net margin of 4.75%. The company had revenue of $12.91 billion for the quarter, compared to analyst estimates of $13.07 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. HP’s quarterly revenue was down 21.7% compared to the same quarter last year. As a group, equities research analysts anticipate that HP Inc. will post 3.35 earnings per share for the current fiscal year.
HP Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 39.77%.
Insiders Place Their Bets
In related news, insider Alex Cho sold 22,490 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $30.50, for a total value of $685,945.00. Following the transaction, the insider now owns 22,003 shares of the company’s stock, valued at approximately $671,091.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Marie Myers sold 4,165 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $29.31, for a total value of $122,076.15. Following the completion of the sale, the chief financial officer now owns 34,776 shares of the company’s stock, valued at approximately $1,019,284.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex Cho sold 22,490 shares of HP stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $30.50, for a total transaction of $685,945.00. Following the transaction, the insider now directly owns 22,003 shares in the company, valued at $671,091.50. The disclosure for this sale can be found here. Insiders have sold a total of 191,961 shares of company stock worth $5,877,847 over the last quarter. Company insiders own 0.32% of the company’s stock.
HP 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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