HP Inc. (NYSE:HPQ) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of HP Inc. (NYSE:HPQ) by 8.0% during the first quarter, Holdings Channel.com reports. The fund owned 91,457 shares of the computer maker’s stock after buying an additional 6,801 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in HP were worth $2,764,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Rosenberg Matthew Hamilton grew 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 acquiring an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in HP in the 4th quarter valued at about $28,000. Sawyer & Company Inc lifted its stake in HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares in the last quarter. Janiczek Wealth Management LLC lifted its stake in 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 buying an additional 566 shares in the last quarter. Finally, Rise Advisors LLC lifted its stake in HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after buying an additional 839 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HP

In related news, insider Alex Cho sold 173,137 shares of HP stock in a transaction that occurred 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 sale, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of NYSE HPQ opened at $36.73 on Friday. The company has a 50 day simple moving average of $34.19 and a 200-day simple moving average of $30.96. The company has a market capitalization of $35.94 billion, a P/E ratio of 12.41, a P/E/G ratio of 2.34 and a beta of 1.09. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. As a group, research analysts expect that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.2756 per share. 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 3.00%. HP’s dividend payout ratio is currently 37.16%.

Analyst Ratings Changes

HPQ has been the topic of a number of research reports. Barclays raised their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Bank of America raised 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 raised their price target on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. UBS Group raised their target price on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company raised their target price on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. One research 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’s stock. According to data from MarketBeat, HP currently has an average rating of “Moderate Buy” and a consensus 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.