Parsons Capital Management Inc. RI Has $1.62 Million Position in HP Inc. (NYSE:HPQ)

Parsons Capital Management Inc. RI grew its holdings in HP Inc. (NYSE:HPQ) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,549 shares of the computer maker’s stock after purchasing an additional 3,734 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in HP were worth $1,621,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after purchasing an additional 579,525 shares in the last quarter. Northern Trust Corp raised its position in shares of HP by 15.8% during the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after acquiring an additional 1,755,942 shares during the last quarter. Invesco Ltd. raised its position in shares of HP by 7.3% during the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock worth $310,351,000 after acquiring an additional 643,192 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of HP by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker’s stock worth $303,105,000 after acquiring an additional 707,742 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of HP during the fourth quarter worth $229,320,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Up 1.7%

NYSE:HPQ opened at $25.54 on Wednesday. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.96 and a beta of 1.30. The stock has a 50-day moving average price of $25.62 and a two-hundred day moving average price of $30.07.

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 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.53%. HP’s payout ratio is 44.40%.

Analyst Ratings Changes

HPQ has been the subject of a number of recent research reports. TD Cowen dropped their target price on HP from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, May 29th. Evercore ISI dropped their target price on HP from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. dropped their target price on HP from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. Barclays set a $28.00 price objective on HP and gave the company an “equal weight” rating in a report on Thursday, May 29th. Finally, Bank of America dropped their price objective on HP from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.54.

Insider Transactions at HP

In other news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company’s stock, valued at $4,814.81. This represents a 99.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

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.