PNC Financial Services Group Inc. trimmed its stake in HP Inc. (NYSE:HPQ) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 565,936 shares of the computer maker’s stock after selling 13,226 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HP were worth $9,825,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of HPQ. Citizens Financial Group Inc RI grew its holdings in HP by 109.6% in the fourth quarter. Citizens Financial Group Inc RI now owns 1,314 shares of the computer maker’s stock worth $27,000 after purchasing an additional 687 shares during the period. WASHINGTON TRUST Co acquired a new stake in HP in the first quarter worth $27,000. Manchester Capital Management LLC acquired a new stake in HP in the fourth quarter worth $30,000. Benjamin F. Edwards & Company Inc. grew its holdings in HP by 112.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,746 shares of the computer maker’s stock worth $36,000 after purchasing an additional 925 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new stake in HP in the fourth quarter worth $42,000. Institutional investors and hedge funds own 78.27% of the company’s stock.
A number of brokerages have recently issued reports on HPQ. Morgan Stanley reduced their price objective on shares of HP from $24.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, March 25th. Sanford C. Bernstein dropped their price target on shares of HP from $24.00 to $18.00 and set a “market perform” rating on the stock in a research report on Monday, April 13th. Argus raised shares of HP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. ValuEngine lowered shares of HP from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Finally, Loop Capital lowered their price objective on shares of HP from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.33.
NYSE HPQ opened at $17.00 on Friday. The company’s 50 day moving average is $15.29 and its 200-day moving average is $18.97. HP Inc. has a 12-month low of $12.54 and a 12-month high of $23.93. The firm has a market cap of $24.56 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 3.66 and a beta of 1.01.
HP (NYSE:HPQ) last posted its quarterly earnings results on Monday, February 24th. The computer maker reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.11. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $14.64 billion. HP had a net margin of 5.16% and a negative return on equity of 261.23%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, equities research analysts expect that HP Inc. will post 2.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a dividend of $0.1762 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.70 annualized dividend and a yield of 4.15%. HP’s dividend payout ratio is currently 31.25%.
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.
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