Enlightenment Research LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,303 shares of the computer maker’s stock, valued at approximately $295,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ironwood Wealth Management LLC. purchased a new stake in HP in the fourth quarter worth approximately $30,000. M&G Investment Management Ltd. grew its holdings in shares of HP by 63.7% during the 4th quarter. M&G Investment Management Ltd. now owns 25,010 shares of the computer maker’s stock valued at $625,000 after purchasing an additional 9,735 shares during the last quarter. Bailard Inc. purchased a new position in HP in the 4th quarter worth $327,000. State of Wisconsin Investment Board lifted its stake in HP by 59.8% in the fourth quarter. State of Wisconsin Investment Board now owns 1,609,683 shares of the computer maker’s stock worth $39,582,000 after purchasing an additional 602,258 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new stake in HP during the fourth quarter valued at about $225,000. 75.69% of the stock is owned by institutional investors.
HPQ has been the subject of a number of recent research reports. Cowen boosted their target price on HP from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, May 28th. Morgan Stanley reissued an “overweight” rating and set a $40.00 price objective on shares of HP in a research note on Tuesday, April 20th. JPMorgan Chase & Co. upgraded shares of HP from a “neutral” rating to an “overweight” rating and set a $35.00 price target for the company in a report on Thursday, March 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, May 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of HP from a “neutral” rating to a “buy” rating and upped their price objective for the company from $29.00 to $40.00 in a research note on Monday, May 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. HP presently has a consensus rating of “Buy” and a consensus target price of $28.00.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 26th. The computer maker reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The company had revenue of $15.88 billion for the quarter, compared to analyst estimates of $14.96 billion. HP had a negative return on equity of 143.70% and a net margin of 6.05%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, research analysts forecast that HP Inc. will post 3.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Stockholders of record on Wednesday, June 9th will be given a $0.194 dividend. The ex-dividend date of this dividend is Tuesday, June 8th. This is an increase from HP’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.59%. HP’s dividend payout ratio is currently 34.21%.
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.
Read More: Hold Rating
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.