Abundance Wealth Counselors Boosts Stake in HP Inc. (NYSE:HPQ)

Abundance Wealth Counselors increased its holdings in HP Inc. (NYSE:HPQ) by 12.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,940 shares of the computer maker’s stock after acquiring an additional 3,648 shares during the period. Abundance Wealth Counselors’ holdings in HP were worth $1,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wedge Capital Management L L P NC purchased a new stake in HP during the second quarter worth about $62,672,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of HP by 5.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 96,571 shares of the computer maker’s stock worth $3,382,000 after purchasing an additional 5,114 shares during the period. ORG Partners LLC lifted its stake in HP by 241.0% in the second quarter. ORG Partners LLC now owns 1,913 shares of the computer maker’s stock valued at $67,000 after purchasing an additional 1,352 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in HP by 4.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 196,208 shares of the computer maker’s stock worth $6,871,000 after buying an additional 7,858 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in shares of HP by 21.9% in the second quarter. Wedmont Private Capital now owns 11,285 shares of the computer maker’s stock valued at $415,000 after buying an additional 2,028 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Up 2.1 %

Shares of HPQ traded up $0.74 during trading hours on Thursday, reaching $35.49. 4,823,315 shares of the company’s stock traded hands, compared to its average volume of 7,847,900. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The stock has a market cap of $34.73 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. The firm’s 50 day simple moving average is $35.68 and its 200-day simple moving average is $31.92.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $12.80 billion during 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. As a group, analysts expect that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is currently 37.16%.

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent research reports. TD Cowen lifted their price objective on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Morgan Stanley boosted their target price on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their price target on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. UBS Group boosted their price objective on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Finally, Citigroup raised their target price on HP from $35.00 to $37.00 and gave the stock a “buy” 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 given a buy rating to the company’s stock. Based on data from MarketBeat, HP has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was 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 approximately $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

HP Company 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.