Western Wealth Management LLC Purchases New Shares in HP Inc. $HPQ

Western Wealth Management LLC acquired a new stake in HP Inc. (NYSE:HPQ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,291 shares of the computer maker’s stock, valued at approximately $730,000.

A number of other large investors have also modified their holdings of the company. Jupiter Topco LLC acquired a new stake in shares of HP during the 2nd quarter valued at about $2,790,000. Primecap Management Co. CA purchased a new position in shares of HP in the 2nd quarter valued at about $545,984,000. Canada Pension Plan Investment Board acquired a new position in HP in the 2nd quarter worth about $239,000. Legal & General Group Plc purchased a new position in HP during the second quarter worth approximately $180,689,000. Finally, The Manufacturers Life Insurance Company purchased a new position in HP during the second quarter worth approximately $15,496,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In related news, insider David P. Mcquarrie sold 21,048 shares of HP stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the sale, the insider owned 39,580 shares in the company, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,620 shares of company stock valued at $1,478,622. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings upgraded HP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Morgan Stanley decreased their target price on HP from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Barclays upped their price objective on shares of HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, May 28th. Finally, TD Cowen increased their price objective on shares of HP from $20.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $24.17.

HP Price Performance

NYSE:HPQ opened at $29.56 on Wednesday. The company’s 50-day moving average is $25.96 and its two-hundred day moving average is $22.55. HP Inc. has a 1-year low of $17.56 and a 1-year high of $32.19. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 4.74 and a beta of 1.17.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, equities analysts anticipate that HP Inc. will post 3.03 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s dividend payout ratio (DPR) is 44.28%.

HP Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett?Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.