HP Inc. (NYSE:HPQ) Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its position in HP Inc. (NYSE:HPQ) by 19.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,340,629 shares of the computer maker’s stock after purchasing an additional 1,829,411 shares during the period. Invesco Ltd.’s holdings in HP were worth $314,022,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Northern Trust Corp grew its stake in HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after purchasing an additional 1,755,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in HP by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker’s stock valued at $303,105,000 after acquiring an additional 707,742 shares during the period. Deutsche Bank AG boosted its stake in HP by 2.4% in the first quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker’s stock valued at $228,204,000 after acquiring an additional 189,969 shares during the period. KBC Group NV boosted its stake in HP by 18.5% in the first quarter. KBC Group NV now owns 4,214,069 shares of the computer maker’s stock valued at $116,687,000 after acquiring an additional 658,080 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in HP by 17.9% in the first quarter. Allianz Asset Management GmbH now owns 4,190,799 shares of the computer maker’s stock valued at $116,043,000 after acquiring an additional 637,734 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. TD Cowen decreased their target price on HP from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. Barclays set a $28.00 target price on HP and gave the company an “equal weight” rating in a research note on Thursday, May 29th. Citigroup decreased their target price on HP from $29.00 to $27.50 and set a “neutral” rating for the company in a research note on Thursday, May 29th. Bank of America decreased their target price on HP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Finally, UBS Group reduced their price objective on HP from $37.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.54.

HP Price Performance

Shares of NYSE:HPQ opened at $25.56 on Tuesday. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.79. The stock has a market cap of $24.00 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 2.11 and a beta of 1.29. The stock’s 50 day moving average price is $25.06 and its 200 day moving average price is $27.27.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm earned $0.82 EPS. HP’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.5%. HP’s payout ratio is presently 44.79%.

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.