Aberdeen Group plc Sells 474,793 Shares of HP Inc. $HPQ

by · The Cerbat Gem

Aberdeen Group plc trimmed its holdings in HP Inc. (NYSE:HPQ – Free Report) by 35.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 872,451 shares of the computer maker’s stock after selling 474,793 shares during the period. Aberdeen Group plc owned about 0.09% of HP worth $24,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in HPQ. Migdal Insurance & Financial Holdings Ltd. purchased a new position in HP in the 1st quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of HP during the fourth quarter valued at approximately $36,000. Iron Horse Wealth Management LLC bought a new position in shares of HP during the first quarter worth $39,000. Financial Freedom LLC grew its stake in 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 acquiring an additional 878 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in HP by 165.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker’s stock valued at $42,000 after acquiring an additional 947 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup dropped their price objective on shares of HP from $29.00 to $27.50 and set a “neutral” rating for the company in a report on Thursday, May 29th. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. TD Cowen reduced their price objective on HP from $38.00 to $28.00 and set a “hold” rating on the stock 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 report on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of HP from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, HP currently has a consensus rating of “Hold” and an average target price of $29.54.

Get Our Latest Report on HP

HP Stock Down 0.7%

NYSE HPQ opened at $26.75 on Monday. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.79. The firm has a market capitalization of $25.13 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 2.16 and a beta of 1.29. The company has a fifty day moving average of $25.20 and a two-hundred day moving average of $27.10.

HP (NYSE:HPQ – Get Free Report) last issued its quarterly 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). The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 earnings per share. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed 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 is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a yield of 4.3%. HP’s payout ratio is presently 44.79%.

HP Company Profile

(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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