Foresters Investment Management Company Inc. Maintains Stake in HP Inc. (HPQ)

Foresters Investment Management Company Inc. continued to hold its position in shares of HP Inc. (NYSE:HPQ) during the first quarter, Holdings Channel reports. The institutional investor owned 166,800 shares of the computer maker’s stock at the end of the first quarter. Foresters Investment Management Company Inc.’s holdings in HP were worth $2,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HPQ. CWM LLC boosted its position in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the period. YorkBridge Wealth Partners LLC boosted its position in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares during the period. TrimTabs Asset Management LLC boosted its position in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after buying an additional 3,264 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of HP by 24.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,452 shares of the computer maker’s stock valued at $133,000 after buying an additional 1,488 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of HP during the first quarter valued at about $150,000. 80.37% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

HP Inc. (HPQ) opened at 17.80 on Friday. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of 12.59 and a beta of 1.76. The company has a 50-day moving average of $18.61 and a 200-day moving average of $16.99. HP Inc. has a 52 week low of $11.48 and a 52 week high of $19.58.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts anticipate that HP Inc. will post $1.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be given a $0.1327 dividend. The ex-dividend date is Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.98%. HP’s dividend payout ratio is presently 37.32%.

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A number of research firms have weighed in on HPQ. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 target price (up previously from $18.00) on shares of HP in a report on Friday, May 19th. Citigroup Inc. set a $20.00 target price on HP and gave the stock a “buy” rating in a report on Thursday, May 25th. Argus restated a “buy” rating and set a $22.00 target price (up previously from $19.00) on shares of HP in a report on Monday, February 27th. BidaskClub lowered HP from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Finally, Wells Fargo & Company upgraded HP from a “market perform” rating to an “outperform” rating in a report on Monday, March 6th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $19.64.

In other news, insider Ron Coughlin sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total value of $181,400.00. Following the sale, the insider now directly owns 61,745 shares in the company, valued at $1,120,054.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Catherine A. Lesjak sold 719,775 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $17.60, for a total transaction of $12,668,040.00. Following the completion of the sale, the chief financial officer now owns 599,775 shares in the company, valued at $10,556,040. The disclosure for this sale can be found here. Insiders sold 1,163,143 shares of company stock worth $20,762,933 over the last quarter. Company insiders own 0.62% of the company’s stock.

About HP

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

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