Harbor Capital Advisors Inc. Has $599,000 Stake in HP Inc. (NYSE:HPQ)

Harbor Capital Advisors Inc. boosted its holdings in HP Inc. (NYSE:HPQ) by 59.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,616 shares of the computer maker’s stock after purchasing an additional 8,082 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in HP were worth $599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of HPQ. Stonebridge Financial Group LLC acquired a new stake in HP in the 4th quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of HP in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new position in shares of HP in the 4th quarter valued at approximately $37,000. CoreCap Advisors LLC raised its position in shares of HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock valued at $46,000 after buying an additional 587 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of HP in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Price Performance

HPQ stock opened at $23.85 on Friday. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 2.96 and a beta of 1.30. The company has a 50 day simple moving average of $25.73 and a 200 day simple moving average of $29.82.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Wednesday, September 10th. HP’s payout ratio is 44.40%.

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 169 shares of the company’s stock, valued at $4,814.81. The trade was a 99.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was 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. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of HP from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Citigroup dropped their target price on shares of HP from $29.00 to $27.50 and set a “neutral” rating for the company in a research report on Thursday, May 29th. Barclays set a $28.00 target price on shares of HP and gave the company an “equal weight” rating in a research report on Thursday, May 29th. KGI Securities assumed coverage on shares of HP in a research report on Thursday, May 29th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of HP from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, HP presently has an average rating of “Hold” and a consensus target price of $29.54.

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.