CreativeOne Wealth LLC Purchases 10,481 Shares of HP Inc. (NYSE:HPQ)

CreativeOne Wealth LLC grew its position in HP Inc. (NYSE:HPQ) by 79.8% in the first quarter, HoldingsChannel.com reports. The fund owned 23,615 shares of the computer maker’s stock after buying an additional 10,481 shares during the quarter. CreativeOne Wealth LLC’s holdings in HP were worth $713,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vident Advisory LLC raised its position in HP by 250.9% in the 1st quarter. Vident Advisory LLC now owns 182,217 shares of the computer maker’s stock worth $5,507,000 after purchasing an additional 130,284 shares during the last quarter. Shell Asset Management Co. raised its position in HP by 14.1% in the 1st quarter. Shell Asset Management Co. now owns 68,833 shares of the computer maker’s stock worth $2,080,000 after purchasing an additional 8,520 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in HP in the 1st quarter worth approximately $160,000. Lake Street Advisors Group LLC raised its position in HP by 1,049.4% in the 1st quarter. Lake Street Advisors Group LLC now owns 90,240 shares of the computer maker’s stock worth $2,752,000 after purchasing an additional 82,389 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in HP by 35.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 143,233 shares of the computer maker’s stock worth $4,329,000 after purchasing an additional 37,529 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

NYSE HPQ traded up $0.09 on Friday, reaching $36.34. The company had a trading volume of 7,299,563 shares, compared to its average volume of 6,088,713. The firm has a market capitalization of $35.56 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The company’s fifty day moving average is $35.67 and its 200-day moving average is $31.46.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.03%. HP’s dividend payout ratio (DPR) is presently 37.16%.

Wall Street Analyst Weigh In

Several analysts have commented on HPQ shares. Citigroup upped their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. TD Cowen upped their target price on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on shares of HP from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Wells Fargo & Company boosted their price target on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Finally, Bank of America boosted their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One equities 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.64.

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company’s stock.

About HP

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.