First Trust Direct Indexing L.P. Has $922,000 Stake in HP Inc. (NYSE:HPQ)

First Trust Direct Indexing L.P. grew its holdings in shares of HP Inc. (NYSE:HPQ) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,498 shares of the computer maker’s stock after acquiring an additional 2,086 shares during the period. First Trust Direct Indexing L.P.’s holdings in HP were worth $922,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton grew its stake in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of HP during the 4th quarter worth approximately $28,000. Sawyer & Company Inc grew its position in shares of HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares during the period. Janiczek Wealth Management LLC increased its stake in shares of HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 566 shares in the last quarter. Finally, Rise Advisors LLC lifted 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 period. 77.53% of the stock is owned by institutional investors.

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 value of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by company insiders.

HP Trading Up 0.1 %

Shares of HP stock opened at $34.85 on Friday. The business’s fifty day simple moving average is $33.27 and its 200 day simple moving average is $30.72. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The firm has a market capitalization of $34.10 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.22 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $12.61 billion. During the same period in the previous year, the firm earned $0.80 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Analysts predict that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued 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 3.16%. HP’s dividend payout ratio (DPR) is presently 37.16%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several research analyst reports. Bank of America lifted 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. TD Cowen upped their price objective on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company lifted their price objective on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Citigroup upped their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley lifted their price target on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, HP has an average rating of “Moderate Buy” and an average target price of $34.64.

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.