HP Inc. (NYSE:HPQ) Shares Acquired by Praxis Investment Management Inc.

Praxis Investment Management Inc. grew its stake in shares of HP Inc. (NYSE:HPQ) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,060 shares of the computer maker’s stock after acquiring an additional 3,120 shares during the quarter. Praxis Investment Management Inc.’s holdings in HP were worth $915,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HPQ. Geode Capital Management LLC grew its position in HP by 2.3% during the 4th 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 during the last quarter. Northern Trust Corp lifted its stake 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 buying an additional 1,755,942 shares during the period. Invesco Ltd. grew its holdings 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 valued at $310,351,000 after buying an additional 643,192 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of HP by 8.2% in the 4th 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 valued at $303,105,000 after acquiring an additional 707,742 shares during the period. Finally, Norges Bank purchased a new position in HP in the 4th quarter worth $229,320,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several research analyst reports. Bank of America dropped their price target on HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Evercore ISI cut their price target on shares of HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Barclays set a $28.00 price target on shares of HP and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. Citigroup dropped their price objective on shares of HP from $29.00 to $27.50 and set a “neutral” rating on the stock in a report on Thursday, May 29th. Finally, KGI Securities assumed coverage on shares of HP in a 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.54.

HP Stock Performance

Shares of HP stock opened at $24.16 on Friday. The firm has a 50-day simple moving average of $25.82 and a two-hundred day simple moving average of $29.38. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a market cap of $22.69 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 1.95 and a beta of 1.30.

HP (NYSE:HPQ) last announced its quarterly earnings results 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). The business had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. HP’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. Equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

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

Insider Activity

In other HP news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were 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 in the company, valued at approximately $4,814.81. This represents a 99.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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.