HP Inc. (NYSE:HPQ) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of HP Inc. (NYSE:HPQ) by 7.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 177,225 shares of the computer maker’s stock after selling 13,910 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in HP were worth $4,925,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of HPQ. West Paces Advisors Inc. lifted its position in HP by 3.2% during the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock valued at $314,000 after buying an additional 298 shares in the last quarter. TIAA Trust National Association lifted its position in HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after acquiring an additional 302 shares in the last quarter. HBK Sorce Advisory LLC grew its position in HP by 2.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after acquiring an additional 306 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of HP by 1.6% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,384 shares of the computer maker’s stock valued at $665,000 after purchasing an additional 329 shares during the period. Finally, Sound View Wealth Advisors Group LLC lifted its position in shares of HP by 3.3% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 10,312 shares of the computer maker’s stock worth $336,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ opened at $26.00 on Friday. The stock has a market capitalization of $24.42 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.11 and a beta of 1.27. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80. The company has a 50 day moving average price of $25.99 and a 200 day moving average price of $28.70.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The company had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is currently 44.79%.

Analysts Set New Price Targets

HPQ has been the subject of a number of recent analyst reports. Evercore ISI lowered their price target on shares of HP from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Morgan Stanley lowered their target price on HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, May 29th. Dbs Bank lowered HP from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, June 11th. TD Cowen cut their price target on HP from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, May 29th. Finally, Wells Fargo & Company lowered their price objective on HP from $35.00 to $25.00 and set an “underweight” rating for the company in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.54.

HP Company 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.