Costello Asset Management INC Invests $70,000 in HP Inc. (NYSE:HPQ)

by · The Cerbat Gem

Costello Asset Management INC acquired a new stake in HP Inc. (NYSE:HPQ – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,546 shares of the computer maker’s stock, valued at approximately $70,000.

Other institutional investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of HP in the fourth quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of HP in the first quarter valued at $35,000. CoreCap Advisors LLC lifted its holdings in shares of HP by 71.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock valued at $46,000 after buying an additional 587 shares during the period. Iron Horse Wealth Management LLC purchased a new stake in shares of HP during the first quarter valued at $39,000. Finally, Financial Freedom LLC lifted its holdings in shares of HP by 141.4% during the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker’s stock valued at $42,000 after purchasing an additional 878 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HPQ. Evercore ISI reduced their target price on HP from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Bank of America reduced their target price on HP from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. UBS Group reduced their target price on HP from $37.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Finally, KGI Securities began coverage on HP in a report on Thursday, May 29th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.54.

Get Our Latest Stock Analysis on HP

HP Price Performance

Shares of HPQ stock opened at $25.05 on Wednesday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79. The stock’s 50-day moving average is $25.06 and its two-hundred day moving average is $27.51. The firm has a market cap of $23.53 billion, a P/E ratio of 9.67, a PEG ratio of 2.02 and a beta of 1.29.

HP (NYSE:HPQ – Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a yield of 4.6%. HP’s dividend payout ratio (DPR) is 44.79%.

About HP

(Free Report)

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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