HB Wealth Management LLC Has $2.01 Million Holdings in HP Inc. (NYSE:HPQ)

HB Wealth Management LLC boosted its position in HP Inc. (NYSE:HPQ) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,596 shares of the computer maker’s stock after buying an additional 1,875 shares during the quarter. HB Wealth Management LLC’s holdings in HP were worth $2,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in HP in the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC grew its position in HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in HP in the 3rd quarter worth $37,000. Itau Unibanco Holding S.A. acquired a new stake in HP in the 3rd quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HP in the 3rd quarter worth $44,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HP

In other HP news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 in the last ninety days. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Friday, September 27th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup decreased their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein raised their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.23.

HP Stock Up 0.6 %

Shares of HPQ stock opened at $32.53 on Monday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The company has a market capitalization of $30.51 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.83 and a beta of 1.05. The firm has a 50-day moving average price of $34.78 and a 200 day moving average price of $35.35.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period last year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were issued a dividend of $0.2894 per share. This is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.56%. The ex-dividend date was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is currently 40.93%.

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.