Legacy Wealth Asset Management LLC Buys 741 Shares of HP Inc. (NYSE:HPQ)

Legacy Wealth Asset Management LLC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 2.0% in the first quarter, HoldingsChannel reports. The fund owned 37,873 shares of the computer maker’s stock after acquiring an additional 741 shares during the period. Legacy Wealth Asset Management LLC’s holdings in HP were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of HP by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after purchasing an additional 12,883,347 shares during the period. Pacer Advisors Inc. lifted its position in shares of HP by 4,180.9% in the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after acquiring an additional 9,294,209 shares in the last quarter. Norges Bank bought a new position in shares of HP in the fourth quarter worth about $187,264,000. Schroder Investment Management Group boosted its stake in shares of HP by 1,472.4% in the fourth quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock worth $68,126,000 after acquiring an additional 2,120,096 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of HP by 69.6% during the fourth quarter. California Public Employees Retirement System now owns 5,030,982 shares of the computer maker’s stock worth $151,382,000 after purchasing an additional 2,064,869 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In other HP news, insider Alex Cho sold 173,137 shares of the business’s 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 completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

HP Stock Performance

HPQ stock traded up $0.05 during midday trading on Thursday, reaching $34.85. 3,985,175 shares of the company traded hands, compared to its average volume of 8,062,466. The firm has a market capitalization of $34.10 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 2.21 and a beta of 1.09. The business has a 50 day moving average of $33.13 and a 200-day moving average of $30.69. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52.

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

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.16%. HP’s dividend payout ratio is presently 37.16%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HPQ shares. Wells Fargo & Company upped their price target on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. UBS Group raised their target price on shares of HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Citigroup boosted their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Barclays increased their price objective on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Morgan Stanley lifted their target price on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

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.