QRG Capital Management Inc. Lowers Holdings in HP Inc. (NYSE:HPQ)

QRG Capital Management Inc. reduced its stake in shares of HP Inc. (NYSE:HPQ) by 3.2% during the 1st quarter, HoldingsChannel reports. The fund owned 108,262 shares of the computer maker’s stock after selling 3,535 shares during the period. QRG Capital Management Inc.’s holdings in HP were worth $3,272,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of HPQ. Rosenberg Matthew Hamilton boosted its holdings in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after purchasing an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in HP in the fourth quarter valued at $28,000. Sawyer & Company Inc grew its position in HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares during the period. Janiczek Wealth Management LLC increased its stake in HP by 116.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after acquiring an additional 566 shares during the last quarter. Finally, Rise Advisors LLC raised its holdings in shares of HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HP

In other news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

HP Stock Up 1.8 %

Shares of HPQ stock traded up $0.66 during trading hours on Tuesday, reaching $38.00. 8,501,460 shares of the stock traded hands, compared to its average volume of 8,101,911. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The firm has a market capitalization of $37.19 billion, a PE ratio of 12.60, a PEG ratio of 2.34 and a beta of 1.09. The business has a fifty day moving average price of $34.37 and a 200 day moving average price of $31.01.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. Research analysts expect that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is presently 37.16%.

Analyst Ratings Changes

HPQ has been the subject of a number of research reports. UBS Group boosted their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on HP from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Bank of America increased their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Barclays raised their price target on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Finally, TD Cowen lifted their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.64.

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.