Bryn Mawr Capital Management LLC Sells 8,654 Shares of HP Inc. (NYSE:HPQ)

by · The Cerbat Gem

Bryn Mawr Capital Management LLC lowered its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 109,168 shares of the computer maker’s stock after selling 8,654 shares during the period. Bryn Mawr Capital Management LLC’s holdings in HP were worth $3,023,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HPQ. Geode Capital Management LLC raised its position in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock valued at $825,398,000 after buying an additional 579,525 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock valued at $419,126,000 after acquiring an additional 1,755,942 shares in the last quarter. Invesco Ltd. grew its position in HP by 7.3% during the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock worth $310,351,000 after acquiring an additional 643,192 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 purchasing an additional 707,742 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of HP during the fourth quarter valued at about $229,320,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Down 1.0%

Shares of HPQ stock opened at $25.16 on Tuesday. The company has a 50 day moving average of $25.97 and a 200-day moving average of $28.35. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The firm has a market cap of $23.63 billion, a P/E ratio of 9.69, a PEG ratio of 2.06 and a beta of 1.27.

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

HP Announces Dividend

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 paid a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a yield of 4.60%. HP’s dividend payout ratio is 44.40%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of research reports. Wall Street Zen upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Bank of America dropped their price target on shares of HP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Citigroup decreased their price objective on HP from $29.00 to $27.50 and set a “neutral” rating for the company in a report on Thursday, May 29th. Morgan Stanley decreased their price objective on HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased their price objective on HP from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.54.

View Our Latest Analysis on HPQ

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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