Denali Advisors LLC Raises Stock Holdings in HP Inc. (NYSE:HPQ)

Denali Advisors LLC grew its stake in HP Inc. (NYSE:HPQ) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,207 shares of the computer maker’s stock after buying an additional 2,690 shares during the quarter. Denali Advisors LLC’s holdings in HP were worth $943,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of HP by 12.3% during the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after purchasing an additional 12,883,347 shares in the last quarter. Northern Trust Corp grew its holdings in HP by 0.4% during the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after buying an additional 40,884 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after purchasing an additional 9,294,209 shares during the last quarter. Norges Bank bought a new stake in shares of HP in the 4th quarter valued at approximately $187,264,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of HP by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,771,103 shares of the computer maker’s stock valued at $173,652,000 after purchasing an additional 232,515 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by insiders.

HP Price Performance

Shares of NYSE HPQ traded up $0.05 during mid-day trading on Wednesday, hitting $34.85. The company had a trading volume of 3,984,795 shares, compared to its average volume of 8,227,070. The business’s 50-day simple moving average is $33.00 and its 200 day simple moving average is $30.66. The company has a market capitalization of $34.10 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. On average, analysts expect that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

Analyst Ratings Changes

HPQ has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. Morgan Stanley raised their price objective on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on HP from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. UBS Group lifted their price target on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Barclays lifted their price target on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, HP currently has an average rating of “Moderate Buy” and a consensus target price of $34.64.

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.