Wedmont Private Capital Increases Stock Holdings in HP Inc. (NYSE:HPQ)

Wedmont Private Capital raised its stake in HP Inc. (NYSE:HPQ) by 21.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,285 shares of the computer maker’s stock after purchasing an additional 2,028 shares during the period. Wedmont Private Capital’s holdings in HP were worth $415,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of HP during the fourth quarter worth approximately $187,264,000. 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 during the last quarter. Schroder Investment Management Group grew its position in HP by 1,472.4% in 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 during the last quarter. California Public Employees Retirement System grew its position in HP by 69.6% in the 4th 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. Finally, DAVENPORT & Co LLC lifted its holdings in HP by 10,188.2% in the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after acquiring an additional 1,760,631 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

HP Stock Up 2.8 %

NYSE HPQ traded up $0.96 during trading hours on Tuesday, reaching $34.74. 4,401,584 shares of the company were exchanged, compared to its average volume of 7,871,215. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The business’s 50 day simple moving average is $35.72 and its 200-day simple moving average is $31.84. The stock has a market capitalization of $34.00 billion, a P/E ratio of 11.41, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. As a group, sell-side analysts anticipate that HP Inc. will post 3.45 earnings per share for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors 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 yield of 3.17%. The ex-dividend date is Wednesday, September 11th. HP’s payout ratio is currently 37.16%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HPQ. TD Cowen boosted their price objective 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. UBS Group lifted their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Barclays raised their target price on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company boosted their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.