Kalos Management Inc. Has $1.68 Million Stake in HP Inc. (NYSE:HPQ)

Kalos Management Inc. decreased its stake in shares of HP Inc. (NYSE:HPQ) by 3.5% during the second quarter, HoldingsChannel.com reports. The fund owned 57,250 shares of the computer maker’s stock after selling 2,081 shares during the period. Kalos Management Inc.’s holdings in HP were worth $1,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HPQ. BlackRock Inc. increased its holdings in shares of HP by 2.9% during the 2nd quarter. BlackRock Inc. now owns 109,024,707 shares of the computer maker’s stock valued at $3,291,454,000 after acquiring an additional 3,102,708 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of HP by 16.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,801,457 shares of the computer maker’s stock valued at $533,446,000 after acquiring an additional 2,366,800 shares during the last quarter. Renaissance Technologies LLC boosted its stake in HP by 201.5% during the 1st quarter. Renaissance Technologies LLC now owns 3,239,800 shares of the computer maker’s stock valued at $102,864,000 after purchasing an additional 2,165,100 shares during the period. Prudential Financial Inc. boosted its stake in HP by 101.0% during the 1st quarter. Prudential Financial Inc. now owns 4,176,264 shares of the computer maker’s stock valued at $132,597,000 after purchasing an additional 2,098,278 shares during the period. Finally, Voloridge Investment Management LLC boosted its stake in HP by 769.4% during the 1st quarter. Voloridge Investment Management LLC now owns 2,115,678 shares of the computer maker’s stock valued at $67,173,000 after purchasing an additional 1,872,333 shares during the period. 77.22% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Alex Cho sold 8,314 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $30.58, for a total transaction of $254,242.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

Several analysts recently weighed in on HPQ shares. Cowen increased their target price on HP from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, May 28th. Morgan Stanley downgraded HP from an “overweight” rating to an “equal weight” rating and set a $31.00 target price for the company. in a research note on Friday, August 27th. upgraded HP from a “neutral” rating to a “buy” rating and increased their target price for the company from $29.00 to $40.00 in a research note on Monday, May 24th. Deutsche Bank Aktiengesellschaft increased their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, May 28th. Finally, Jefferies Financial Group started coverage on HP in a research report on Monday, August 9th. They issued a “hold” rating and a $31.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.04.

Shares of HP stock traded down $0.32 during midday trading on Tuesday, hitting $26.92. 84,181 shares of the company were exchanged, compared to its average volume of 9,729,472. The firm has a market cap of $31.03 billion, a P/E ratio of 8.46, a PEG ratio of 0.91 and a beta of 1.00. HP Inc. has a 52 week low of $17.25 and a 52 week high of $36.00. The firm has a 50 day simple moving average of $28.71 and a 200-day simple moving average of $30.50.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 25th. The computer maker reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.16. The business had revenue of $15.29 billion during the quarter, compared to the consensus estimate of $15.92 billion. HP had a negative return on equity of 137.22% and a net margin of 6.56%. HP’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. As a group, sell-side analysts anticipate that HP Inc. will post 3.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 6th. Investors of record on Wednesday, September 8th will be given a dividend of $0.194 per share. The ex-dividend date is Tuesday, September 7th. This represents a $0.78 annualized dividend and a dividend yield of 2.88%. HP’s dividend payout ratio (DPR) is presently 34.21%.

About HP

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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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