Kathmere Capital Management LLC Buys 2,875 Shares of HP Inc. (NYSE:HPQ)

Kathmere Capital Management LLC boosted its position in HP Inc. (NYSE:HPQ) by 27.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,376 shares of the computer maker’s stock after purchasing an additional 2,875 shares during the quarter. Kathmere Capital Management LLC’s holdings in HP were worth $404,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HPQ. Vanguard Group Inc. boosted its stake in HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after acquiring an additional 12,883,347 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock worth $286,352,000 after purchasing an additional 9,294,209 shares in the last quarter. Norges Bank purchased a new position in HP during the 4th quarter worth $187,264,000. Schroder Investment Management Group increased its position in HP by 1,472.4% during the 4th quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after buying an additional 2,120,096 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in HP by 69.6% in the fourth quarter. California Public Employees Retirement System now owns 5,030,982 shares of the computer maker’s stock valued at $151,382,000 after buying an additional 2,064,869 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Alex Cho sold 173,137 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of NYSE HPQ opened at $35.02 on Friday. The stock has a market capitalization of $34.27 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.21 and a beta of 1.12. The firm’s 50 day simple moving average is $32.71 and its 200-day simple moving average is $30.60. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52.

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

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is currently 37.16%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HPQ shares. UBS Group upped their price objective on shares of HP from $31.00 to $34.00 and gave the company a “neutral” 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 stock an “underweight” rating in a research note on Thursday, May 30th. Citigroup boosted their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Morgan Stanley raised their target price on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their price target on HP from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, HP currently has a consensus 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.