Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of HP Inc. (NYSE:HPQ) by 1.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,379,139 shares of the computer maker’s stock after buying an additional 35,137 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in HP were worth $64,403,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Childress Capital Advisors LLC purchased a new stake in HP during the fourth quarter worth about $25,000. Albion Financial Group UT purchased a new stake in HP during the fourth quarter worth about $28,000. Ironwood Wealth Management LLC. purchased a new stake in HP during the fourth quarter worth about $30,000. Clearview Wealth Advisors LLC increased its holdings in HP by 176.3% during the first quarter. Clearview Wealth Advisors LLC now owns 931 shares of the computer maker’s stock worth $30,000 after buying an additional 594 shares during the last quarter. Finally, Alpha DNA Investment Management LLC purchased a new stake in HP during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 75.69% of the company’s stock.
Several equities analysts have recently weighed in on HPQ shares. JPMorgan Chase & Co. upgraded shares of HP from a “neutral” rating to an “overweight” rating and set a $35.00 target price for the company in a research note on Thursday, March 4th. Morgan Stanley reiterated an “overweight” rating and issued a $40.00 target price on shares of HP in a research note on Tuesday, April 20th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of HP from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $40.00 in a research note on Monday, May 24th. Cowen lifted their target price on shares of HP from $27.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, May 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, May 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. HP presently has an average rating of “Buy” and an average target price of $28.00.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.04. HP had a net margin of 6.05% and a negative return on equity of 143.70%. The business had revenue of $15.88 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the business posted $0.51 earnings per share. HP’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, analysts expect that HP Inc. will post 3.5 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 9th will be given a dividend of $0.194 per share. The ex-dividend date is Tuesday, June 8th. This is a positive change from HP’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 2.59%. HP’s payout ratio is presently 34.21%.
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.
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