Stolper Co Buys 2,838 Shares of HP Inc. (NYSE:HPQ)

Stolper Co raised its stake in HP Inc. (NYSE:HPQ) by 1.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 206,119 shares of the computer maker’s stock after buying an additional 2,838 shares during the period. HP makes up about 2.2% of Stolper Co’s investment portfolio, making the stock its 16th biggest position. Stolper Co’s holdings in HP were worth $6,726,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its position in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. DME Capital Management LP raised its stake in HP by 108.7% in the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after buying an additional 1,757,070 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after buying an additional 1,455,138 shares during the period. Finally, Bridgewater Associates LP increased its holdings in shares of HP by 2,649.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock valued at $47,298,000 after acquiring an additional 1,270,642 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was 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 $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock worth $9,670,068 in the last ninety days. Insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of HP stock opened at $32.79 on Thursday. The business has a 50 day simple moving average of $35.05 and a two-hundred day simple moving average of $35.40. The stock has a market capitalization of $30.75 billion, a P/E ratio of 11.67, a PEG ratio of 2.83 and a beta of 1.05. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

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

HP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.53%. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is 41.28%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HPQ. HSBC cut HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Citigroup cut their price objective 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. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Barclays upped their price objective on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.23.

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.