Sunbelt Securities Inc. Purchases 1,022 Shares of HP Inc. (NYSE:HPQ)

Sunbelt Securities Inc. boosted its position in HP Inc. (NYSE:HPQ) by 136.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,769 shares of the computer maker’s stock after buying an additional 1,022 shares during the quarter. Sunbelt Securities Inc.’s holdings in HP were worth $53,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton boosted its stake 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 bought a new position in HP in the fourth quarter valued at approximately $28,000. Janiczek Wealth Management LLC grew its holdings in HP by 116.7% during the 4th 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 period. Rise Advisors LLC raised its position in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of HP in the 4th quarter valued at $34,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Up 0.9 %

NYSE:HPQ opened at $35.02 on Monday. The stock has a 50 day simple moving average of $32.71 and a 200 day simple moving average of $30.61. The stock has a market cap of $34.27 billion, a P/E ratio of 11.83, a PEG ratio of 2.23 and a beta of 1.12. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. HP’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts forecast 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 given a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.15%. HP’s payout ratio is 37.16%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HPQ shares. JPMorgan Chase & Co. boosted their target price on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Bank of America lifted their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Citigroup upped 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 boosted their target price on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley lifted their price objective on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.64.

Insider Activity at HP

In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was 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 filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

HP Company 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.