Denali Advisors LLC Has $943,000 Position in HP Inc. (NYSE:HPQ)

Denali Advisors LLC raised its stake in shares of HP Inc. (NYSE:HPQ) by 9.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 31,207 shares of the computer maker’s stock after purchasing an additional 2,690 shares during the period. Denali Advisors LLC’s holdings in HP were worth $943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Treasurer of the State of North Carolina lifted its stake in shares of HP by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after purchasing an additional 4,102 shares during the last quarter. Alaska Permanent Fund Corp lifted its stake in shares of HP by 1.4% in the 4th quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock valued at $2,386,000 after purchasing an additional 1,091 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of HP by 87.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after purchasing an additional 358,231 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of HP in the 4th quarter valued at $1,758,000. Finally, Flputnam Investment Management Co. acquired a new position in HP during the 4th quarter worth $211,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Transactions at HP

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. UBS Group boosted their price objective on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Bank of America boosted their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Barclays upped their target price on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley upped 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. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

HP Stock Performance

HP stock traded up $0.05 during mid-day trading on Wednesday, reaching $34.85. The company’s stock had a trading volume of 3,984,795 shares, compared to its average volume of 8,227,070. The company has a market capitalization of $34.10 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The business’s 50 day simple moving average is $33.00 and its 200 day simple moving average is $30.66.

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

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

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.