Oak Harvest Investment Services Has $4.58 Million Stock Position in HP Inc. (NYSE:HPQ)

Oak Harvest Investment Services raised its position in HP Inc. (NYSE:HPQ) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,646 shares of the computer maker’s stock after acquiring an additional 1,116 shares during the period. Oak Harvest Investment Services’ holdings in HP were worth $4,583,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina grew its stake in shares of HP by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after purchasing an additional 4,102 shares during the period. Alaska Permanent Fund Corp lifted its stake in shares of HP by 1.4% in the 4th quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock valued at $2,386,000 after purchasing an additional 1,091 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of HP by 87.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after purchasing an additional 358,231 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of HP in the 4th quarter valued at $1,758,000. Finally, Flputnam Investment Management Co. acquired a new position in shares of HP in the 4th quarter valued at $211,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of analyst reports. UBS Group increased their price target on HP from $31.00 to $34.00 and gave the company a “neutral” 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 stock a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley raised their price objective on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Citigroup raised their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. raised their price objective on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction dated 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 transaction, the insider now 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 can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

HP Stock Performance

HP stock traded up $0.05 during midday trading on Thursday, reaching $34.85. 3,985,175 shares of the company’s stock were exchanged, compared to its average volume of 8,062,466. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The firm has a market cap of $34.10 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 2.21 and a beta of 1.09. The stock’s 50-day simple moving average is $33.13 and its 200 day simple moving average is $30.69.

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

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued 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 dividend yield of 3.16%. HP’s dividend payout ratio is presently 37.16%.

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.