Advisor Group Holdings Inc. Purchases 19,249 Shares of HP Inc. (NYSE:HPQ)

Advisor Group Holdings Inc. grew its holdings in shares of HP Inc. (NYSE:HPQGet Rating) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,074 shares of the computer maker’s stock after buying an additional 19,249 shares during the period. Advisor Group Holdings Inc.’s holdings in HP were worth $9,998,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HPQ. International Assets Investment Management LLC grew its stake in shares of HP by 3.0% in the fourth quarter. International Assets Investment Management LLC now owns 31,286 shares of the computer maker’s stock worth $117,000 after acquiring an additional 916 shares during the last quarter. D.A. Davidson & CO. grew its position in HP by 11.3% during the 4th quarter. D.A. Davidson & CO. now owns 13,058 shares of the computer maker’s stock valued at $492,000 after purchasing an additional 1,324 shares during the last quarter. CWM LLC bought a new stake in HP during the 4th quarter valued at about $308,000. Qube Research & Technologies Ltd purchased a new position in HP in the fourth quarter worth about $5,853,000. Finally, Centaurus Financial Inc. bought a new position in shares of HP in the fourth quarter worth approximately $101,000. Institutional investors own 81.94% of the company’s stock.

HP Price Performance

Shares of HPQ stock opened at $32.96 on Thursday. The company has a market cap of $34.09 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 1.96 and a beta of 0.92. HP Inc. has a 1 year low of $26.11 and a 1 year high of $41.47. The firm has a fifty day moving average price of $34.20 and a 200-day moving average price of $35.92.

HP (NYSE:HPQGet Rating) last released its earnings results on Tuesday, May 31st. The computer maker reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The company had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.19 billion. HP had a negative return on equity of 188.59% and a net margin of 9.61%. HP’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. Equities research analysts expect that HP Inc. will post 4.3 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. HP’s payout ratio is currently 17.99%.

Insider Transactions at HP

In related news, CFO Marie Myers sold 4,500 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $39.91, for a total value of $179,595.00. Following the completion of the transaction, the chief financial officer now owns 28,719 shares of the company’s stock, valued at approximately $1,146,175.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other HP news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $1,110,780.00. Following the sale, the chief executive officer now owns 551,204 shares in the company, valued at approximately $18,007,834.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $39.91, for a total value of $179,595.00. Following the transaction, the chief financial officer now owns 28,719 shares of the company’s stock, valued at approximately $1,146,175.29. The disclosure for this sale can be found here. Insiders sold a total of 53,719 shares of company stock valued at $1,828,345 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HPQ shares. Barclays boosted their price objective on shares of HP from $29.00 to $32.00 and gave the stock an “underweight” rating in a report on Wednesday, June 1st. Citigroup upped their price target on HP from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, June 1st. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. lowered their target price on shares of HP from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, July 14th. Finally, UBS Group downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Friday, April 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.69.

About HP

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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.

Further Reading

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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