HP Inc. (NYSE:HPQ) Position Trimmed by Ieq Capital LLC

Ieq Capital LLC lessened its stake in shares of HP Inc. (NYSE:HPQ) by 40.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 40,536 shares of the computer maker’s stock after selling 27,057 shares during the period. Ieq Capital LLC’s holdings in HP were worth $1,323,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. King Luther Capital Management Corp lifted its holdings in shares of HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after purchasing an additional 303 shares during the last quarter. Arvest Investments Inc. boosted its holdings in shares of HP by 0.9% in the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after buying an additional 310 shares during the period. Avidian Wealth Enterprises LLC increased its position in shares of HP by 4.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after acquiring an additional 316 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares during the period. Finally, Old Port Advisors lifted its position in shares of HP by 3.4% in the 3rd quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock valued at $345,000 after acquiring an additional 317 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction on Monday, December 9th. The shares were 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 owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Citigroup lowered their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.68.

HP Trading Up 0.2 %

HP stock opened at $34.71 on Tuesday. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The firm’s fifty day simple moving average is $33.11 and its 200-day simple moving average is $34.87. The company has a market capitalization of $32.55 billion, a P/E ratio of 12.35, a P/E/G ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. On average, equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.34%. HP’s dividend payout ratio (DPR) is currently 40.93%.

About HP

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.