HP Inc. (NYSE:HPQ) Stake Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in HP Inc. (NYSE:HPQFree Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,932 shares of the computer maker’s stock after acquiring an additional 8,991 shares during the quarter. Janney Montgomery Scott LLC’s holdings in HP were worth $4,350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HPQ. Vanguard Group Inc. raised its position in HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after acquiring an additional 12,883,347 shares in the last quarter. Pacer Advisors Inc. raised its holdings in HP by 4,180.9% during the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock worth $286,352,000 after buying an additional 9,294,209 shares during the period. Norges Bank acquired a new stake in HP during the 4th quarter worth about $187,264,000. Schroder Investment Management Group raised its holdings in HP by 1,472.4% during the 4th quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock worth $68,126,000 after buying an additional 2,120,096 shares during the period. Finally, California Public Employees Retirement System raised its holdings in HP by 69.6% during the 4th quarter. California Public Employees Retirement System now owns 5,030,982 shares of the computer maker’s stock worth $151,382,000 after buying an additional 2,064,869 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on HPQ shares. Barclays boosted their price objective on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. UBS Group boosted their price objective on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their target price on HP from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Citigroup lifted their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, HP has an average rating of “Moderate Buy” and a consensus price target of $34.64.

View Our Latest Analysis on HPQ

Insiders Place Their Bets

In other news, insider Alex Cho sold 173,137 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ opened at $36.06 on Thursday. The stock has a market cap of $35.29 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.25 and a beta of 1.09. The business has a 50 day simple moving average of $33.85 and a 200 day simple moving average of $30.87. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52.

HP (NYSE:HPQGet Free Report) last announced its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. On average, analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.06%. HP’s payout ratio is currently 37.16%.

HP Company Profile

(Free Report)

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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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