Virtu Financial LLC Buys 19,316 Shares of HP Inc. (NYSE:HPQ)

Virtu Financial LLC increased its stake in shares of HP Inc. (NYSE:HPQ) by 120.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 35,312 shares of the computer maker’s stock after acquiring an additional 19,316 shares during the quarter. Virtu Financial LLC’s holdings in HP were worth $978,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in HP during the 1st quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in HP during the 4th quarter worth $36,000. Iron Horse Wealth Management LLC bought a new position in HP during the 1st quarter worth $39,000. Financial Freedom LLC raised its stake in HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker’s stock worth $42,000 after purchasing an additional 878 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker’s stock worth $42,000 after purchasing an additional 947 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ opened at $25.56 on Tuesday. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.79. The firm has a 50 day moving average price of $25.06 and a two-hundred day moving average price of $27.27. The stock has a market cap of $24.00 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 2.11 and a beta of 1.29.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the company posted $0.82 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio is 44.79%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Dbs Bank cut shares of HP from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, June 11th. Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Bank of America cut their price target on HP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Evercore ISI cut their price target on HP from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Finally, Wells Fargo & Company cut their price target on HP from $35.00 to $25.00 and set an “underweight” rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.