Captrust Financial Advisors reduced its holdings in HP Inc. (NYSE:HPQ) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,990 shares of the computer maker’s stock after selling 1,000 shares during the period. Captrust Financial Advisors’ holdings in HP were worth $206,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Athena Capital Advisors LLC bought a new position in shares of HP in the 4th quarter valued at about $29,000. Ipswich Investment Management Co. Inc. bought a new position in shares of HP in the 4th quarter valued at about $31,000. Legacy Bridge LLC bought a new position in shares of HP in the 4th quarter valued at about $39,000. Clarus Wealth Advisors bought a new position in shares of HP in the 4th quarter valued at about $39,000. Finally, Virtus ETF Advisers LLC grew its position in shares of HP by 55.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 1,980 shares of the computer maker’s stock valued at $41,000 after acquiring an additional 706 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.
HPQ has been the subject of a number of analyst reports. ValuEngine downgraded shares of HP from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. BMO Capital Markets decreased their price objective on shares of HP from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, February 28th. Standpoint Research initiated coverage on shares of HP in a research report on Wednesday, December 26th. They issued a “buy” rating and a $19.38 price objective for the company. Wolfe Research initiated coverage on shares of HP in a research report on Tuesday, December 11th. They issued an “outperform” rating for the company. Finally, Bank of America downgraded shares of HP from a “buy” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.38.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, February 27th. The computer maker reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $14.71 billion during the quarter, compared to the consensus estimate of $14.81 billion. HP had a net margin of 7.15% and a negative return on equity of 216.97%. HP’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. On average, analysts forecast that HP Inc. will post 2.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be issued a dividend of $0.1602 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, March 12th. HP’s payout ratio is 31.68%.
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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.
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