Crossmark Global Holdings Inc. Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

Crossmark Global Holdings Inc. trimmed its holdings in shares of HP Inc. (NYSE:HPQ) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 677,209 shares of the computer maker’s stock after selling 15,013 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in HP were worth $22,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. M.E. Allison & CO. Inc. acquired a new position in shares of HP in the fourth quarter valued at about $216,000. Ellsworth Advisors LLC grew its holdings in HP by 230.1% during the fourth quarter. Ellsworth Advisors LLC now owns 130,304 shares of the computer maker’s stock worth $4,252,000 after acquiring an additional 90,827 shares during the period. HB Wealth Management LLC raised its position in HP by 3.1% during the fourth quarter. HB Wealth Management LLC now owns 61,596 shares of the computer maker’s stock valued at $2,010,000 after acquiring an additional 1,875 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its holdings in HP by 4.4% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 19,833 shares of the computer maker’s stock valued at $647,000 after acquiring an additional 829 shares during the period. Finally, Avanza Fonder AB purchased a new stake in HP in the 4th quarter worth approximately $3,288,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. Citigroup lowered their price target on 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 increased their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.23.

HP Trading Up 0.6 %

HP stock opened at $32.53 on Tuesday. The stock has a market cap of $30.51 billion, a P/E ratio of 11.58, a PEG ratio of 2.77 and a beta of 1.05. The company has a 50-day moving average price of $34.78 and a 200 day moving average price of $35.35. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

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

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio is currently 41.28%.

Insider Activity at HP

In other HP news, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.43, for a total value 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. The trade was a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, 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. Over the last quarter, insiders sold 273,035 shares of company stock worth $9,670,068. Corporate insiders own 0.41% of the company’s stock.

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.