Hoylecohen LLC Acquires 904 Shares of HP Inc. (NYSE:HPQ)

Hoylecohen LLC raised its holdings in HP Inc. (NYSE:HPQ) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,825 shares of the computer maker’s stock after acquiring an additional 904 shares during the quarter. Hoylecohen LLC’s holdings in HP were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in HP during the fourth quarter worth about $1,471,000. NewEdge Wealth LLC bought a new stake in HP in the fourth quarter valued at approximately $364,000. Louisiana State Employees Retirement System acquired a new stake in HP in the fourth quarter worth $1,583,000. Flputnam Investment Management Co. bought a new stake in shares of HP in the 4th quarter valued at $211,000. Finally, SVB Wealth LLC raised its stake in HP by 8.3% during the 4th quarter. SVB Wealth LLC now owns 40,457 shares of the computer maker’s stock worth $1,217,000 after buying an additional 3,098 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Trading Up 1.2 %

NYSE:HPQ traded up $0.42 on Friday, hitting $35.91. The company’s stock had a trading volume of 5,580,370 shares, compared to its average volume of 7,833,548. HP Inc. has a one year low of $25.22 and a one year high of $39.52. The firm has a market capitalization of $35.14 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. The stock has a fifty day moving average of $35.67 and a two-hundred day moving average of $31.98.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS 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 analysts’ expectations of $12.61 billion. During the same period in the previous year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

Insiders Place Their Bets

In related news, insider Alex Cho sold 173,137 shares of the 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Citigroup boosted their price objective 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. Barclays increased their target price on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. UBS Group boosted their price target on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Bank of America increased their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

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.