SeaCrest Wealth Management LLC Takes Position in HP Inc. (NYSE:HPQ)

SeaCrest Wealth Management LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the 1st quarter, Holdings Channel reports. The fund purchased 8,911 shares of the computer maker’s stock, valued at approximately $269,000.

Several other hedge funds have also added to or reduced their stakes in HPQ. Vanguard Group Inc. boosted its stake in shares of HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after purchasing an additional 12,883,347 shares during the last quarter. Northern Trust Corp boosted its stake in HP by 0.4% in the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after acquiring an additional 40,884 shares during the last quarter. Pacer Advisors Inc. grew its holdings in HP by 4,180.9% during the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock worth $286,352,000 after acquiring an additional 9,294,209 shares during the period. Norges Bank bought a new stake in shares of HP during the 4th quarter valued at $187,264,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of HP by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,771,103 shares of the computer maker’s stock valued at $173,652,000 after purchasing an additional 232,515 shares during the period. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In related 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 value of $6,251,977.07. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

HP Trading Up 0.1 %

HPQ opened at $34.85 on Thursday. The stock has a market capitalization of $34.10 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.23 and a beta of 1.09. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The firm’s fifty day simple moving average is $33.00 and its 200 day simple moving average is $30.66.

HP (NYSE:HPQ) last released 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. 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% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, equities research analysts predict that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Announces Dividend

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 dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.16%. HP’s dividend payout ratio is currently 37.16%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HPQ shares. Bank of America lifted their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company upped their price target on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Barclays increased their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on shares of HP from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Morgan Stanley increased their target price on shares of HP from $36.00 to $37.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat, HP currently has an average rating of “Moderate Buy” and an average price target 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.