Royal Fund Management LLC Purchases New Position in HP Inc. (NYSE:HPQ)

Royal Fund Management LLC purchased a new position in HP Inc. (NYSE:HPQ) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 24,546 shares of the computer maker’s stock, valued at approximately $742,000.

Other hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. raised its stake in HP by 1.4% during the fourth quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock worth $778,000 after buying an additional 362 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in HP by 47.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in HP by 18.8% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock valued at $73,000 after purchasing an additional 382 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in HP by 84.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after purchasing an additional 397 shares in the last quarter. Finally, Gables Capital Management Inc. increased its stake in HP by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 5,450 shares of the computer maker’s stock valued at $164,000 after purchasing an additional 400 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HPQ. Barclays lifted 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. TD Cowen boosted their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of 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 boosted their price target 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, Citigroup boosted their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, HP presently has an average rating of “Moderate Buy” and a consensus price target of $34.64.

HP Price Performance

NYSE HPQ traded up $0.26 during trading hours on Monday, reaching $36.63. 246,055 shares of the company’s stock traded hands, compared to its average volume of 8,240,790. The firm has a market cap of $35.84 billion, a PE ratio of 12.29, a PEG ratio of 2.31 and a beta of 1.12. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The firm has a 50-day simple moving average of $31.94 and a 200 day simple moving average of $30.41.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. Sell-side analysts forecast that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is 37.16%.

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.