Tidal Investments LLC Has $3.47 Million Stake in HP Inc. (NYSE:HPQ)

Tidal Investments LLC increased its position in shares of HP Inc. (NYSE:HPQ) by 15.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 114,994 shares of the computer maker’s stock after purchasing an additional 15,815 shares during the period. Tidal Investments LLC’s holdings in HP were worth $3,474,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HPQ. Norges Bank acquired a new position in shares of HP in the fourth quarter valued at $187,264,000. Vanguard Group Inc. increased its holdings in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of HP by 1,472.4% in the fourth quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after purchasing an additional 2,120,096 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of HP by 69.6% in the fourth quarter. California Public Employees Retirement System now owns 5,030,982 shares of the computer maker’s stock valued at $151,382,000 after acquiring an additional 2,064,869 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of HP by 10,188.2% in the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after acquiring an additional 1,760,631 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on HPQ. Bank of America upped their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company upped their price target on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Barclays upped their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Citigroup upped their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, UBS Group upped their price target on shares of HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research note 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

HP Price Performance

HPQ traded down $0.94 on Friday, hitting $34.23. 678,367 shares of the stock were exchanged, compared to its average volume of 7,909,494. The firm has a market capitalization of $33.50 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.30 and a beta of 1.09. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The business has a 50-day moving average of $35.93 and a two-hundred day moving average of $31.62.

HP (NYSE:HPQ) last posted its 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 firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. Equities research analysts expect that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders 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 dividend yield of 3.22%. HP’s dividend payout ratio (DPR) is currently 37.16%.

Insider Activity at HP

In related 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 value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is owned by company insiders.

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.