MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stock Holdings in HP Inc. (NYSE:HPQ)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in HP Inc. (NYSE:HPQ) by 17.0% in the first quarter, HoldingsChannel.com reports. The fund owned 126,820 shares of the computer maker’s stock after selling 25,952 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in HP were worth $3,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its position in HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in HP during the 4th quarter worth about $28,000. Sawyer & Company Inc grew its position in HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the period. Janiczek Wealth Management LLC grew its position in HP by 116.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after purchasing an additional 566 shares during the period. Finally, Rise Advisors LLC grew its position in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HPQ shares. Bank of America increased their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. UBS Group raised their target price on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Wells Fargo & Company raised their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Morgan Stanley raised their target price on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. raised their target price on HP from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

HP Price Performance

HPQ stock traded down $0.17 during trading on Tuesday, hitting $34.80. The stock had a trading volume of 5,786,186 shares, compared to its average volume of 8,260,355. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52. The stock has a market capitalization of $34.05 billion, a P/E ratio of 11.71, a PEG ratio of 2.23 and a beta of 1.09. The company’s 50-day moving average price is $32.86 and its two-hundred day moving average price is $30.63.

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

HP Dividend Announcement

The firm also recently announced 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 3.17%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is 37.16%.

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.