Hussman Strategic Advisors Inc. Invests $2.91 Million in HP Inc. (NYSE:HPQ)

Hussman Strategic Advisors Inc. bought a new position in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 105,000 shares of the computer maker’s stock, valued at approximately $2,907,000.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of HP in the 4th quarter valued at $229,320,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in HP during the 4th quarter worth $63,612,000. Northern Trust Corp raised its position in HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after purchasing an additional 1,755,942 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in HP during the 4th quarter worth $55,915,000. Finally, Freestone Grove Partners LP bought a new position in HP during the 4th quarter worth $50,957,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Up 0.3%

HP stock traded up $0.08 during trading on Friday, hitting $24.83. The stock had a trading volume of 1,151,669 shares, compared to its average volume of 8,354,386. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79. The stock’s 50 day moving average is $25.89 and its two-hundred day moving average is $28.24. The stock has a market cap of $23.32 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27.

HP (NYSE:HPQ) last released 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 firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $0.82 EPS. As a group, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.66%. HP’s dividend payout ratio (DPR) is presently 44.79%.

Analyst Ratings Changes

Several research firms have recently weighed in on HPQ. Evercore ISI lowered their price objective 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. lowered their price objective on HP from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. KGI Securities began coverage on HP in a research report on Thursday, May 29th. They issued a “neutral” rating for the company. Citigroup lowered their price objective on HP from $29.00 to $27.50 and set a “neutral” rating for the company in a research report on Thursday, May 29th. Finally, Barclays set a $28.00 target price on HP and gave the company an “equal weight” rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.