HP Inc. (NYSE:HPQ) Stock Holdings Raised by Wahed Invest LLC

Wahed Invest LLC lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 14.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,890 shares of the computer maker’s stock after buying an additional 2,140 shares during the period. Wahed Invest LLC’s holdings in HP were worth $510,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James & Associates lifted its position in shares of HP by 66.5% in the 4th quarter. Raymond James & Associates now owns 378,798 shares of the computer maker’s stock valued at $11,398,000 after acquiring an additional 151,242 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of HP by 28.0% during the 4th quarter. Global Retirement Partners LLC now owns 3,348 shares of the computer maker’s stock valued at $97,000 after purchasing an additional 732 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of HP during the 4th quarter valued at $233,000. Parsons Capital Management Inc. RI bought a new position in shares of HP during the 4th quarter valued at $1,464,000. Finally, Pinnacle Financial Partners Inc raised its holdings in HP by 34.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 11,075 shares of the computer maker’s stock worth $333,000 after acquiring an additional 2,810 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Stock Down 4.1 %

Shares of HPQ traded down $1.45 during trading hours on Friday, hitting $33.72. The company had a trading volume of 6,488,423 shares, compared to its average volume of 7,948,751. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.30 and a beta of 1.09. The business has a fifty day moving average of $35.93 and a 200-day moving average of $31.62. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52.

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

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.27%. HP’s dividend payout ratio (DPR) is presently 37.16%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TD Cowen lifted their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. UBS Group lifted their target price on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Wells Fargo & Company lifted their target price on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Morgan Stanley raised their price target on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Bank of America raised their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research 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 given a buy rating to the company. According to MarketBeat, HP presently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

Insider Activity at HP

In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

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.