Mercer Global Advisors Inc. ADV grew its position in HP Inc. (NYSE:HPQ) by 37.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,663 shares of the computer maker’s stock after acquiring an additional 36,888 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in HP were worth $4,275,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in HPQ. Childress Capital Advisors LLC bought a new position in shares of HP in the 4th quarter valued at about $25,000. Albion Financial Group UT bought a new position in shares of HP in the 4th quarter valued at about $28,000. Ironwood Wealth Management LLC. bought a new position in shares of HP in the 4th quarter valued at about $30,000. Clearview Wealth Advisors LLC grew its position in shares of HP by 176.3% in the 1st quarter. Clearview Wealth Advisors LLC now owns 931 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 594 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new position in shares of HP in the 4th quarter valued at about $33,000. 75.69% of the stock is owned by institutional investors.
HPQ has been the subject of several research analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of HP from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $40.00 in a report on Monday, May 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, May 28th. Citigroup raised shares of HP from a “neutral” rating to a “buy” rating in a report on Monday, May 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 target price on shares of HP in a report on Tuesday, April 20th. Finally, JPMorgan Chase & Co. raised shares of HP from a “neutral” rating to an “overweight” rating and set a $35.00 target price for the company in a report on Thursday, March 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. HP presently has a consensus rating of “Buy” and an average target price of $28.00.
HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 26th. The computer maker reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $15.88 billion during the quarter, compared to analysts’ expectations of $14.96 billion. HP had a net margin of 6.05% and a negative return on equity of 143.70%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. As a group, equities research analysts anticipate that HP Inc. will post 3.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Stockholders of record on Wednesday, June 9th will be given a $0.194 dividend. The ex-dividend date is Tuesday, June 8th. This is a boost from HP’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 2.59%. HP’s payout ratio is presently 34.21%.
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.
Featured Article: Discover Your Risk Tolerance
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.