Raymond James Financial Inc. Buys New Position in HP Inc. (NYSE:HPQ)

Raymond James Financial Inc. bought a new position in shares of HP Inc. (NYSE:HPQ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,118,357 shares of the computer maker's stock, valued at approximately $36,492,000. Raymond James Financial Inc. owned approximately 0.12% of HP as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TIAA Trust National Association lifted its holdings in shares of HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock worth $548,000 after acquiring an additional 302 shares during the period. HBK Sorce Advisory LLC boosted its holdings in shares of HP by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock valued at $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC increased its stake in shares of HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker's stock valued at $282,000 after purchasing an additional 310 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker's stock worth $420,000 after buying an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its position in shares of HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock worth $400,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Stock Performance

Shares of NYSE:HPQ traded up $0.44 during trading on Tuesday, reaching $24.19. The stock had a trading volume of 6,414,448 shares, compared to its average volume of 7,868,331. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80. The firm's fifty day moving average is $28.20 and its 200 day moving average is $32.56. The stock has a market cap of $22.80 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts' consensus estimates of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Wednesday, March 12th. HP's dividend payout ratio is presently 41.37%.

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HPQ shares. Morgan Stanley reduced their price target on shares of HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Loop Capital decreased their target price on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company increased their price target on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. StockNews.com cut HP from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Finally, Sanford C. Bernstein upped their price objective on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $34.00.

HP 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.