Pensionfund Sabic Lowers Stock Position in HP Inc. (NYSE:HPQ)

Pensionfund Sabic reduced its stake in shares of HP Inc. (NYSE:HPQ) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,500 shares of the computer maker’s stock after selling 1,500 shares during the period. Pensionfund Sabic’s holdings in HP were worth $1,163,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HPQ. Rosenberg Matthew Hamilton lifted its position in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in HP in the 4th quarter worth approximately $28,000. Janiczek Wealth Management LLC lifted its holdings in HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after purchasing an additional 566 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in HP in the 4th quarter worth approximately $34,000. Finally, Salem Investment Counselors Inc. lifted its holdings in HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after purchasing an additional 380 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TD Cowen boosted their price target on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted 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. Bank of America boosted their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company lifted their price objective on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. Finally, StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. One investment 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’s stock. According to MarketBeat.com, HP presently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

HP Stock Performance

NYSE HPQ opened at $36.75 on Thursday. The company has a market cap of $35.96 billion, a P/E ratio of 12.42, a P/E/G ratio of 2.34 and a beta of 1.12. The business’s 50 day moving average price is $31.64 and its 200-day moving average price is $30.29. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last released its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, equities analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

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 given a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

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.