Annex Advisory Services LLC Buys Shares of 81,858 HP Inc. (NYSE:HPQ)

Annex Advisory Services LLC bought a new stake in HP Inc. (NYSE:HPQ) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 81,858 shares of the computer maker’s stock, valued at approximately $2,474,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Unison Advisors LLC lifted its stake in HP by 0.9% in the first quarter. Unison Advisors LLC now owns 110,226 shares of the computer maker’s stock valued at $3,361,000 after buying an additional 1,011 shares during the period. Perkins Coie Trust Co bought a new stake in shares of HP in the first quarter worth about $107,000. Range Financial Group LLC increased its holdings in shares of HP by 52.5% in the first quarter. Range Financial Group LLC now owns 31,141 shares of the computer maker’s stock worth $941,000 after acquiring an additional 10,717 shares in the last quarter. Lloyd Advisory Services LLC. increased its holdings in shares of HP by 171.8% in the first quarter. Lloyd Advisory Services LLC. now owns 27,295 shares of the computer maker’s stock worth $825,000 after acquiring an additional 17,254 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of HP by 5.7% in the first quarter. Ballentine Partners LLC now owns 49,560 shares of the computer maker’s stock worth $1,498,000 after acquiring an additional 2,693 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other news, insider Alex Cho sold 173,137 shares of the firm’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 value of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on HPQ shares. JPMorgan Chase & Co. increased their price target on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Bank of America increased their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Barclays increased their price target on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. TD Cowen increased their price objective on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company increased their price objective 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 given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.64.

HP Stock Performance

Shares of NYSE HPQ opened at $36.27 on Wednesday. The stock has a 50 day moving average price of $32.28 and a 200 day moving average price of $30.51. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The stock has a market capitalization of $35.49 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 2.31 and a beta of 1.12.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts forecast that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.04%. HP’s dividend payout ratio (DPR) is presently 37.16%.

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.