OneDigital Investment Advisors LLC Grows Stock Holdings in HP Inc. (NYSE:HPQ)

OneDigital Investment Advisors LLC lifted its position in shares of HP Inc. (NYSE:HPQ) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,068 shares of the computer maker’s stock after purchasing an additional 985 shares during the period. OneDigital Investment Advisors LLC’s holdings in HP were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in HP in the fourth quarter valued at $36,000. Financial Freedom LLC increased its stake in HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker’s stock valued at $42,000 after purchasing an additional 878 shares during the period. Golden State Wealth Management LLC increased its stake in HP by 165.3% in the first quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker’s stock valued at $42,000 after purchasing an additional 947 shares during the period. Global X Japan Co. Ltd. acquired a new position in HP in the first quarter valued at $43,000. Finally, CoreCap Advisors LLC increased its stake in HP by 71.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock valued at $46,000 after purchasing an additional 587 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on HPQ. Evercore ISI dropped their price objective on shares of HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Bank of America dropped their price target on shares of HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Morgan Stanley dropped their price target on shares of HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 29th. JPMorgan Chase & Co. dropped their price target on shares of HP from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, May 29th. Finally, Barclays set a $28.00 price target on shares of HP and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, HP currently has an average rating of “Hold” and a consensus target price of $29.54.

HP Stock Performance

HPQ stock opened at $25.44 on Friday. The stock has a market cap of $23.90 billion, a P/E ratio of 9.82, a P/E/G ratio of 2.06 and a beta of 1.27. The firm has a 50 day simple moving average of $25.99 and a 200 day simple moving average of $28.44. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the firm earned $0.82 earnings per share. HP’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, September 10th. HP’s payout ratio is presently 44.79%.

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.