Perkins Coie Trust Co Makes New Investment in HP Inc. (NYSE:HPQ)

Perkins Coie Trust Co bought a new position in shares of HP Inc. (NYSE:HPQ) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,534 shares of the computer maker’s stock, valued at approximately $107,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Range Financial Group LLC grew its position in HP by 52.5% during the first quarter. Range Financial Group LLC now owns 31,141 shares of the computer maker’s stock worth $941,000 after buying an additional 10,717 shares during the period. Lloyd Advisory Services LLC. grew its position in shares of HP by 171.8% in the first quarter. Lloyd Advisory Services LLC. now owns 27,295 shares of the computer maker’s stock valued at $825,000 after purchasing an additional 17,254 shares during the last quarter. Ballentine Partners LLC grew its position in shares of HP by 5.7% in the first quarter. Ballentine Partners LLC now owns 49,560 shares of the computer maker’s stock valued at $1,498,000 after purchasing an additional 2,693 shares during the last quarter. Royal Fund Management LLC acquired a new stake in shares of HP in the first quarter valued at approximately $742,000. Finally, Rockland Trust Co. grew its position in shares of HP by 2.0% in the first quarter. Rockland Trust Co. now owns 254,183 shares of the computer maker’s stock valued at $7,681,000 after purchasing an additional 5,080 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HPQ has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Citigroup increased their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Barclays increased their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Bank of America increased their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One investment 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.64.

Insiders Place Their Bets

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

HP Stock Down 0.2 %

Shares of HPQ traded down $0.07 on Monday, hitting $36.30. 5,424,739 shares of the stock traded hands, compared to its average volume of 8,284,290. The firm has a market capitalization of $35.52 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.31 and a beta of 1.12. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The stock’s 50 day moving average is $32.11 and its two-hundred day moving average is $30.46.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $12.80 billion for 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%. HP’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. Research analysts forecast that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

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.