Jacobi Capital Management LLC Has $1.03 Million Stake in HP Inc. (NYSE:HPQ)

Jacobi Capital Management LLC grew its holdings in HP Inc. (NYSE:HPQ) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,228 shares of the computer maker’s stock after buying an additional 390 shares during the period. Jacobi Capital Management LLC’s holdings in HP were worth $1,034,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after buying an additional 3,062,441 shares during the last quarter. Te Ahumairangi Investment Management Ltd lifted its position in shares of HP by 19.8% in the first quarter. Te Ahumairangi Investment Management Ltd now owns 193,808 shares of the computer maker’s stock valued at $5,857,000 after buying an additional 32,010 shares during the last quarter. M&G Plc acquired a new stake in shares of HP in the first quarter valued at approximately $17,762,000. Tocqueville Asset Management L.P. increased its stake in shares of HP by 7.9% during the first quarter. Tocqueville Asset Management L.P. now owns 7,791 shares of the computer maker’s stock worth $235,000 after purchasing an additional 570 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of HP by 33.0% during the first quarter. Blair William & Co. IL now owns 283,068 shares of the computer maker’s stock worth $8,554,000 after purchasing an additional 70,271 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HPQ. UBS Group increased their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. TD Cowen increased their target price on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. Barclays increased their target price on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley increased their target price on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.64.

Insider Transactions at HP

In related 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 transaction of $6,251,977.07. Following the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

HP Stock Performance

Shares of HP stock traded up $0.87 during trading on Monday, reaching $38.02. 4,519,900 shares of the company’s stock were exchanged, compared to its average volume of 8,042,613. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The company has a market cap of $37.20 billion, a P/E ratio of 12.77, a PEG ratio of 2.36 and a beta of 1.09. The firm’s 50-day moving average price is $35.04 and its 200 day moving average price is $31.23.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.90%. HP’s dividend payout ratio (DPR) is currently 37.16%.

HP 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.