VisionPoint Advisory Group LLC Invests $808,000 in HP Inc. (HPQ) Stock
VisionPoint Advisory Group LLC purchased a new position in HP Inc. (NYSE:HPQ) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 41,561 shares of the computer maker’s stock, valued at approximately $808,000.
A number of other institutional investors have also bought and sold shares of the business. CWM LLC raised its holdings in shares of HP by 156.9% during the 4th quarter. CWM LLC now owns 12,146 shares of the computer maker’s stock worth $249,000 after acquiring an additional 7,418 shares in the last quarter. GWM Advisors LLC purchased a new stake in shares of HP during the 4th quarter worth approximately $574,000. MAI Capital Management raised its holdings in shares of HP by 6.8% during the 4th quarter. MAI Capital Management now owns 15,276 shares of the computer maker’s stock worth $313,000 after acquiring an additional 966 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in shares of HP during the 4th quarter worth approximately $32,908,000. Finally, Wedbush Securities Inc. raised its holdings in shares of HP by 28.7% during the 4th quarter. Wedbush Securities Inc. now owns 11,220 shares of the computer maker’s stock worth $230,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 79.01% of the company’s stock.
Several brokerages have recently issued reports on HPQ. Bank of America cut HP from a “buy” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a report on Thursday, February 28th. BMO Capital Markets reaffirmed a “hold” rating and set a $22.00 price objective on shares of HP in a report on Wednesday, February 27th. Zacks Investment Research raised HP from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. ValuEngine raised HP from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Credit Suisse Group began coverage on HP in a report on Thursday, April 11th. They set a “neutral” rating and a $21.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.40.
HP (NYSE:HPQ) last released its earnings results on Thursday, May 23rd. The computer maker reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The firm had revenue of $14.04 billion for the quarter, compared to the consensus estimate of $13.97 billion. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. On average, research analysts expect that HP Inc. will post 2.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be given a dividend of $0.1602 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, June 11th. HP’s dividend payout ratio is currently 31.68%.
In other news, CEO Dion J. Weisler sold 36,799 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.
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.
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