TCW Group Inc. Purchases 2,144 Shares of HP Inc. (NYSE:HPQ)

TCW Group Inc. raised its position in shares of HP Inc. (NYSE:HPQ) by 18.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,813 shares of the computer maker’s stock after purchasing an additional 2,144 shares during the period. TCW Group Inc.’s holdings in HP were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Gradient Investments LLC grew its holdings in HP by 506.8% in the second quarter. Gradient Investments LLC now owns 3,034 shares of the computer maker’s stock worth $106,000 after purchasing an additional 2,534 shares during the last quarter. Brookstone Capital Management raised its stake in HP by 0.6% in the second quarter. Brookstone Capital Management now owns 317,913 shares of the computer maker’s stock valued at $12,116,000 after buying an additional 2,030 shares during the last quarter. Blue Trust Inc. grew its stake in shares of HP by 36.5% during the second quarter. Blue Trust Inc. now owns 5,862 shares of the computer maker’s stock worth $205,000 after acquiring an additional 1,569 shares during the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of HP during the second quarter valued at $1,197,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of HP in the 2nd quarter valued at $33,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Up 1.2 %

HPQ traded up $0.42 during trading on Friday, reaching $35.91. The company’s stock had a trading volume of 5,580,370 shares, compared to its average volume of 7,833,548. The company has a market cap of $35.14 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 2.24 and a beta of 1.09. The firm has a fifty day simple moving average of $35.67 and a two-hundred day simple moving average of $31.98. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52.

HP (NYSE:HPQ) last announced 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. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. As a group, equities analysts forecast that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is currently 37.16%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HPQ shares. Wells Fargo & Company increased their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Citigroup increased their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley increased their price target on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. TD Cowen raised their price objective on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, UBS Group upped their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Insider Buying and Selling at HP

In related news, insider Alex Cho sold 173,137 shares of the 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 transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently 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.