Mediolanum International Funds Ltd Takes Position in HP Inc. (NYSE:HPQ)

Mediolanum International Funds Ltd bought a new position in shares of HP Inc. (NYSE:HPQ) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,002 shares of the computer maker’s stock, valued at approximately $663,000.

A number of other large investors have also bought and sold shares of HPQ. Rosenberg Matthew Hamilton boosted its position in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in HP during the 4th quarter worth approximately $28,000. Sawyer & Company Inc boosted its holdings in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 566 shares during the period. Finally, Rise Advisors LLC increased its holdings in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Up 1.8 %

HP stock traded up $0.64 during mid-day trading on Wednesday, reaching $36.06. 5,344,004 shares of the company’s stock were exchanged, compared to its average volume of 8,139,021. The firm has a market capitalization of $35.29 billion, a PE ratio of 12.18, a P/E/G ratio of 2.25 and a beta of 1.09. The business’s fifty day simple moving average is $33.69 and its 200 day simple moving average is $30.84. HP Inc. has a one year low of $25.22 and a one year high of $39.52.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, sell-side analysts forecast that HP Inc. will post 3.45 earnings per share for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.06%. HP’s payout ratio is 37.16%.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HPQ has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Citigroup raised their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley boosted their target price on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. TD Cowen raised their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, Bank of America lifted their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.64.

HP Company Profile

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.