Wellington Management Group LLP Has $2.64 Million Stock Position in HP Inc. (NYSE:HPQ)

Wellington Management Group LLP cut its holdings in HP Inc. (NYSE:HPQ) by 30.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 87,795 shares of the computer maker’s stock after selling 38,410 shares during the quarter. Wellington Management Group LLP’s holdings in HP were worth $2,642,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HPQ. LPL Financial LLC increased its stake in HP by 11.0% in the 3rd quarter. LPL Financial LLC now owns 207,476 shares of the computer maker’s stock valued at $5,332,000 after buying an additional 20,614 shares during the last quarter. Stifel Financial Corp increased its position in shares of HP by 1.8% in the third quarter. Stifel Financial Corp now owns 181,009 shares of the computer maker’s stock valued at $4,652,000 after acquiring an additional 3,141 shares during the last quarter. Natixis Advisors L.P. raised its holdings in HP by 0.5% during the third quarter. Natixis Advisors L.P. now owns 142,975 shares of the computer maker’s stock worth $3,674,000 after acquiring an additional 768 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in HP during the third quarter valued at approximately $251,000. Finally, Evergreen Capital Management LLC grew its stake in HP by 0.3% in the third quarter. Evergreen Capital Management LLC now owns 231,541 shares of the computer maker’s stock valued at $6,011,000 after purchasing an additional 760 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HPQ shares. Barclays upped their price objective on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Bank of America increased their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley boosted their price objective on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised their target price on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Finally, UBS Group boosted their price target on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.64.

HP Price Performance

HPQ stock opened at $35.02 on Monday. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The stock has a market capitalization of $34.27 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.23 and a beta of 1.12. The business’s fifty day moving average price is $32.71 and its two-hundred day moving average price is $30.61.

HP (NYSE:HPQ) last issued its quarterly 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. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business 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 company posted $0.80 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts expect that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The firm 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 $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.15%. HP’s payout ratio is 37.16%.

Insider Transactions at HP

In other HP news, insider Alex Cho sold 173,137 shares of HP stock in a transaction dated 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 transaction, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by insiders.

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.