HP Inc. (NYSE:HPQ) Stock Holdings Lifted by LPL Financial LLC

LPL Financial LLC grew its position in shares of HP Inc. (NYSE:HPQ) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,190 shares of the computer maker’s stock after buying an additional 11,234 shares during the quarter. LPL Financial LLC’s holdings in HP were worth $5,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tocqueville Asset Management L.P. acquired a new stake in shares of HP in the 1st quarter valued at $267,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of HP in the first quarter worth about $903,000. Pictet Asset Management SA boosted its stake in shares of HP by 1.6% during the 1st quarter. Pictet Asset Management SA now owns 857,657 shares of the computer maker’s stock worth $25,172,000 after acquiring an additional 13,557 shares in the last quarter. Sepio Capital LP increased its holdings in shares of HP by 2.8% during the 1st quarter. Sepio Capital LP now owns 142,496 shares of the computer maker’s stock valued at $4,182,000 after acquiring an additional 3,823 shares during the last quarter. Finally, Banco Santander S.A. raised its stake in shares of HP by 10.2% in the 1st quarter. Banco Santander S.A. now owns 11,908 shares of the computer maker’s stock valued at $350,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 76.04% of the company’s stock.

Insiders Place Their Bets

In other HP news, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $30.70, for a total value of $127,865.50. Following the completion of the transaction, the chief financial officer now directly owns 30,611 shares of the company’s stock, valued at $939,757.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other HP news, Director Subra Suresh sold 6,659 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $33.00, for a total transaction of $219,747.00. Following the transaction, the director now directly owns 59,533 shares in the company, valued at approximately $1,964,589. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marie Myers sold 4,165 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $30.70, for a total transaction of $127,865.50. Following the completion of the transaction, the chief financial officer now directly owns 30,611 shares in the company, valued at approximately $939,757.70. The disclosure for this sale can be found here. Insiders have sold a total of 194,455 shares of company stock valued at $5,986,805 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HPQ shares. Citigroup dropped their price target on shares of HP from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com raised HP from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. 58.com reissued a “maintains” rating on shares of HP in a research report on Wednesday, May 31st. Morgan Stanley lowered their target price on HP from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Barclays cut their price target on HP from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus price target of $29.92.

HP Trading Up 1.4 %

NYSE:HPQ opened at $29.71 on Friday. The stock has a market capitalization of $29.29 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. HP Inc. has a 1 year low of $24.08 and a 1 year high of $33.90. The firm has a 50 day moving average of $31.76 and a 200-day moving average of $30.32.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. The firm had revenue of $13.20 billion during the quarter, compared to analysts’ expectations of $13.38 billion. HP had a negative return on equity of 121.57% and a net margin of 4.75%. The business’s revenue was down 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. As a group, analysts forecast that HP Inc. will post 3.35 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.05 annualized dividend and a yield of 3.53%. HP’s dividend payout ratio (DPR) is 45.26%.

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.