49,617 Shares in HP Inc. (NYSE:HPQ) Bought by Connectus Wealth LLC

Connectus Wealth LLC acquired a new position in HP Inc. (NYSE:HPQFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 49,617 shares of the computer maker’s stock, valued at approximately $1,493,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rosenberg Matthew Hamilton raised its position in shares of HP by 84.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in HP in the fourth quarter valued at $28,000. Janiczek Wealth Management LLC increased its stake in HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 566 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in HP in the fourth quarter valued at $34,000. Finally, Salem Investment Counselors Inc. increased its stake in HP by 47.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after acquiring an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HPQ shares. Citigroup increased their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley increased their target price on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. TD Cowen raised their price objective on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Bank of America raised their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company raised their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Read Our Latest Stock Report on HPQ

HP Trading Down 0.7 %

HP stock opened at $36.18 on Tuesday. The firm has a 50-day moving average of $30.69 and a 200-day moving average of $29.94. The firm has a market cap of $35.40 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.32 and a beta of 1.11. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52.

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

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 13th. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.2756 per share. The ex-dividend date is Wednesday, June 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.05%. HP’s payout ratio is 37.16%.

Insider Activity

In other news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

HP Profile

(Free Report)

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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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