Transform Wealth LLC Sells 1,597 Shares of HP Inc. (NYSE:HPQ)

Transform Wealth LLC lessened its position in HP Inc. (NYSE:HPQ) by 13.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,573 shares of the computer maker’s stock after selling 1,597 shares during the period. Transform Wealth LLC’s holdings in HP were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of HPQ. LVW Advisors LLC increased its stake in shares of HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC boosted its stake in HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc grew its position in HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after acquiring an additional 297 shares during the last quarter. King Luther Capital Management Corp grew its position in HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after acquiring an additional 303 shares during the last quarter. Finally, Arvest Investments Inc. increased its position in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after purchasing an additional 310 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HPQ shares. Barclays increased their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $38.00 in a report on Friday, November 29th. TD Cowen increased their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, September 27th. One equities 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 company. According to data from MarketBeat.com, HP has an average rating of “Hold” and a consensus target price of $36.23.

HP Stock Up 1.4 %

Shares of HPQ stock opened at $32.96 on Wednesday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The firm has a 50 day moving average of $34.68 and a 200-day moving average of $35.33. The company has a market cap of $30.91 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly 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. 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. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. Analysts anticipate 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. Shareholders of record on Wednesday, December 11th were issued a $0.2894 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.51%. This is a positive change from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio is presently 41.28%.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was 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 valued at $9,670,068. Company insiders own 0.41% of the company’s stock.

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.