Western Wealth Management LLC Acquires New Position in HP Inc. $HPQ

Western Wealth Management LLC bought a new position in shares of HP Inc. (NYSE:HPQ) during the second quarter, HoldingsChannel.com reports. The firm bought 33,291 shares of the computer maker’s stock, valued at approximately $730,000.

Other institutional investors have also modified their holdings of the company. Garner Asset Management Corp acquired a new position in HP during the 4th quarter worth $25,000. SHP Wealth Management acquired a new stake in HP in the 4th quarter valued at about $26,000. Union Savings Bank purchased a new position in shares of HP in the 4th quarter valued at about $28,000. DV Equities LLC purchased a new position in shares of HP in the 4th quarter valued at about $29,000. Finally, Aberdeen Wealth Management LLC acquired a new position in shares of HP during the second quarter worth about $29,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HPQ shares. Citigroup upped their target price on shares of HP from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Barclays increased their target price on HP from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. Evercore set a $32.00 price objective on HP in a research report on Monday. Finally, Bank of America raised their target price on HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $24.17.

Insider Buying and Selling at HP

In related news, insider David P. Mcquarrie sold 21,048 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the sale, the insider directly owned 39,580 shares of the company’s stock, valued at $1,186,608.40. This trade represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,620 shares of company stock worth $1,478,622 over the last three months. 0.18% of the stock is owned by company insiders.

HP Stock Up 3.4%

Shares of HPQ stock opened at $29.56 on Wednesday. The stock’s 50-day moving average price is $25.96 and its 200 day moving average price is $22.55. The stock has a market capitalization of $27.04 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 4.74 and a beta of 1.17. HP Inc. has a 52-week low of $17.56 and a 52-week high of $32.19.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that HP Inc. will post 3.03 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 9th. HP’s dividend payout ratio is 44.28%.

HP Company Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.