GLOBALT Investments LLC GA Boosts Stock Holdings in HP Inc. (NYSE:HPQ)

GLOBALT Investments LLC GA increased its position in shares of HP Inc. (NYSE:HPQ) by 1.0% in the 1st quarter, HoldingsChannel reports. The firm owned 178,965 shares of the computer maker’s stock after purchasing an additional 1,779 shares during the period. GLOBALT Investments LLC GA’s holdings in HP were worth $4,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of HP during the 1st quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of HP during the 4th quarter valued at approximately $36,000. Iron Horse Wealth Management LLC acquired a new stake in shares of HP during the 1st quarter valued at approximately $39,000. Financial Freedom LLC lifted its position in shares of HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker’s stock valued at $42,000 after acquiring an additional 878 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in shares of HP by 165.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker’s stock valued at $42,000 after acquiring an additional 947 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HPQ shares. KGI Securities started coverage on shares of HP in a research report on Thursday, May 29th. They set a “neutral” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of HP from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. UBS Group dropped their price objective on shares of HP from $37.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, May 29th. Evercore ISI dropped their price objective on shares of HP from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley dropped their price objective on shares of HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $29.54.

HP Stock Performance

Shares of NYSE HPQ opened at $25.67 on Friday. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79. The firm’s 50 day moving average price is $25.54 and its 200 day moving average price is $27.93. The firm has a market cap of $24.11 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 2.08 and a beta of 1.27.

HP (NYSE:HPQ) last announced 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 negative return on equity of 244.99% and a net margin of 4.64%. The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.51%. HP’s dividend payout ratio (DPR) is presently 44.79%.

HP 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.