Abundance Wealth Counselors Increases Stock Holdings in HP Inc. (NYSE:HPQ)

Abundance Wealth Counselors increased its holdings in HP Inc. (NYSE:HPQ) by 7.9% in the first quarter, Holdings Channel.com reports. The firm owned 36,971 shares of the computer maker’s stock after purchasing an additional 2,701 shares during the period. Abundance Wealth Counselors’ holdings in HP were worth $1,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HPQ. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP in the fourth quarter valued at $36,000. OFI Invest Asset Management purchased a new stake in shares of HP in the fourth quarter valued at $37,000. Financial Freedom LLC grew its position in shares of 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. Global X Japan Co. Ltd. purchased a new stake in shares of HP in the first quarter valued at $43,000. Finally, CoreCap Advisors LLC grew its position in shares of 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. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HPQ opened at $24.15 on Friday. The stock’s 50-day moving average is $25.81 and its two-hundred day moving average is $29.52. The stock has a market cap of $22.68 billion, a PE ratio of 9.32, a P/E/G ratio of 1.96 and a beta of 1.30. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80.

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

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is 44.79%.

Insider Buying and Selling

In related news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 15,646 shares of the business’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. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price target on HP from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Morgan Stanley lowered their price target on HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, May 29th. Finally, KGI Securities assumed coverage on HP in a research report on Thursday, May 29th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.54.

About HP

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.