Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in HP Inc. (NYSE:HPQ)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of HP Inc. (NYSE:HPQ) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,350 shares of the computer maker’s stock after buying an additional 4,815 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in HP were worth $5,692,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Whittier Trust Co. boosted its position in HP by 1.4% during the fourth quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after buying an additional 362 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after purchasing an additional 380 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of HP by 18.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock worth $73,000 after purchasing an additional 382 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the period. Finally, Gables Capital Management Inc. boosted its holdings in shares of HP by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 5,450 shares of the computer maker’s stock worth $164,000 after purchasing an additional 400 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at HP

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by insiders.

HP Stock Performance

Shares of NYSE HPQ opened at $34.97 on Tuesday. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The company has a 50 day simple moving average of $32.71 and a two-hundred day simple moving average of $30.61. The company has a market capitalization of $34.22 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.23 and a beta of 1.09.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $12.80 billion during 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 business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. On average, analysts forecast that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The company 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. This represents a $1.10 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is currently 37.16%.

Analyst Ratings Changes

A number of research firms have recently weighed in on HPQ. Bank of America increased their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. UBS Group increased their target price on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Barclays increased 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. Morgan Stanley raised their price objective on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company raised their price objective on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.64.

HP 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.