Lake Street Advisors Group LLC Purchases 61,433 Shares of HP Inc. (NYSE:HPQ)

Lake Street Advisors Group LLC grew its position in HP Inc. (NYSE:HPQ) by 218.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,572 shares of the computer maker’s stock after purchasing an additional 61,433 shares during the quarter. Lake Street Advisors Group LLC’s holdings in HP were worth $2,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares during the period. Geode Capital Management LLC lifted its holdings in HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. boosted its stake in HP by 4.2% in the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after purchasing an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after buying an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of HP by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock valued at $241,876,000 after buying an additional 678,985 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other news, insider Kristen M. Ludgate sold 74,356 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the transaction, the insider now directly owns 56,169 shares in the company, valued at approximately $1,933,898.67. This trade represents a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on HPQ. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Wells Fargo & Company boosted their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. HSBC cut HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.68.

HP Trading Down 1.7 %

NYSE:HPQ opened at $34.08 on Wednesday. The stock has a fifty day simple moving average of $33.11 and a 200-day simple moving average of $34.88. The company has a market cap of $31.96 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

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

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is 40.93%.

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.