HP Inc. (NYSE:HPQ) Shares Purchased by Graypoint LLC

Graypoint LLC grew its holdings in shares of HP Inc. (NYSE:HPQ) by 16.4% in the second quarter, HoldingsChannel reports. The fund owned 12,349 shares of the computer maker’s stock after buying an additional 1,737 shares during the period. Graypoint LLC’s holdings in HP were worth $432,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after buying an additional 3,062,441 shares in the last quarter. LSV Asset Management raised its stake in shares of HP by 3.3% in the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after buying an additional 403,355 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of HP by 0.4% in the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after buying an additional 40,884 shares during the period. Bank of New York Mellon Corp boosted its stake in HP by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock valued at $294,253,000 after buying an additional 287,861 shares in the last quarter. Finally, Norges Bank acquired a new position in HP during the fourth quarter worth about $187,264,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HPQ shares. UBS Group raised their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday. Barclays decreased their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America raised their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. TD Cowen upped their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price target on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.60.

Insider Activity at HP

In other HP 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 $2,335,450.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by company insiders.

HP Stock Performance

HPQ stock opened at $36.18 on Monday. 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 $35.47 and a 200 day simple moving average of $32.49. The stock has a market cap of $35.40 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.32 and a beta of 1.09.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that HP Inc. will post 3.4 EPS for the current year.

HP Dividend Announcement

The business also recently disclosed 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is 37.16%.

HP Company 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.