Mission Wealth Management LP Buys 1,603 Shares of HP Inc. (NYSE:HPQ)

Mission Wealth Management LP boosted its stake in HP Inc. (NYSE:HPQ) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,145 shares of the computer maker’s stock after purchasing an additional 1,603 shares during the quarter. Mission Wealth Management LP’s holdings in HP were worth $1,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. bought a new stake in HP in the 4th quarter valued at about $36,000. OFI Invest Asset Management bought a new stake in shares of HP during the fourth quarter valued at approximately $37,000. CoreCap Advisors LLC raised its position in shares of HP by 71.9% during the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock worth $46,000 after purchasing an additional 587 shares during the period. Summit Securities Group LLC bought a new position in shares of HP in the 4th quarter worth $55,000. Finally, ST Germain D J Co. Inc. grew its position in HP by 57.2% in the 1st quarter. ST Germain D J Co. Inc. now owns 1,988 shares of the computer maker’s stock valued at $55,000 after purchasing an additional 723 shares during the period. 77.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

HP Stock Down 0.9%

HPQ stock opened at $24.30 on Wednesday. The business has a 50 day moving average of $25.79 and a 200-day moving average of $29.64. The firm has a market cap of $22.82 billion, a PE ratio of 9.38, a P/E/G ratio of 1.99 and a beta of 1.30. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion during 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 firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. On average, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business 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 of this dividend is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a yield of 4.76%. HP’s dividend payout ratio (DPR) is presently 44.79%.

Wall Street Analyst Weigh In

Several research firms have weighed in on HPQ. Wall Street Zen upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. JPMorgan Chase & Co. lowered their target price on shares of HP from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, May 29th. Citigroup cut their price target on HP from $29.00 to $27.50 and set a “neutral” rating for the company in a research note on Thursday, May 29th. TD Cowen decreased their price objective on HP from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, May 29th. Finally, KGI Securities assumed coverage on HP in a report on Thursday, May 29th. They issued a “neutral” rating on the stock. One research 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.54.

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.