Oak Harvest Investment Services Raises Holdings in HP Inc. (NYSE:HPQ)

Oak Harvest Investment Services increased its holdings in HP Inc. (NYSE:HPQ) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,057 shares of the computer maker’s stock after acquiring an additional 2,951 shares during the quarter. Oak Harvest Investment Services’ holdings in HP were worth $5,223,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC bought a new position in HP in the third quarter worth approximately $25,000. Synergy Asset Management LLC bought a new position in shares of HP in the 4th quarter worth $26,000. Wolff Wiese Magana LLC lifted its stake in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in HP during the third quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in HP in the third quarter worth about $40,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Trading Up 0.6 %

Shares of HPQ stock opened at $32.81 on Friday. The stock has a market cap of $30.76 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 2.78 and a beta of 1.05. The company’s 50-day moving average price is $34.14 and its 200-day moving average price is $35.20. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.53%. HP’s dividend payout ratio (DPR) is presently 41.28%.

Insider Activity

In other HP news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction on 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 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. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HPQ. Citigroup cut their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. TD Cowen lifted their target price on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, Barclays lifted their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.23.

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.