Wedgewood Investors Inc. PA Takes Position in HP Inc. (NYSE:HPQ)

Wedgewood Investors Inc. PA bought a new stake in HP Inc. (NYSE:HPQ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,859 shares of the computer maker’s stock, valued at approximately $450,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares during the period. LSV Asset Management increased its holdings in shares of HP by 3.3% in the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after purchasing an additional 403,355 shares during the period. Northern Trust Corp increased its holdings in shares of HP by 0.4% in the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after purchasing an additional 40,884 shares during the period. Norges Bank acquired a new position in shares of HP in the fourth quarter valued at approximately $187,264,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of HP by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,771,103 shares of the computer maker’s stock valued at $173,652,000 after purchasing an additional 232,515 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays upped their price objective on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Wells Fargo & Company upped 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. JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen upped 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, Morgan Stanley lowered HP from an “overweight” rating to an “equal weight” rating and set a $37.00 price objective on the stock. in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, HP has an average rating of “Hold” and a consensus target price of $35.00.

HP Price Performance

HPQ traded up $0.58 during trading on Friday, reaching $35.66. 6,319,665 shares of the stock were exchanged, compared to its average volume of 7,792,394. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The business’s 50 day moving average price is $35.56 and its two-hundred day moving average price is $32.24. The company has a market capitalization of $34.90 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (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 business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same period in the prior year, the business earned $0.80 earnings per share. The business’s revenue was down .8% on a year-over-year basis. On average, analysts anticipate that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.09%. HP’s dividend payout ratio is currently 37.16%.

Insider Buying and Selling

In related news, insider Alex Cho sold 173,137 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by company insiders.

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.