Optimist Retirement Group LLC Reduces Position in HP Inc. (NYSE:HPQ)

Optimist Retirement Group LLC decreased its position in shares of HP Inc. (NYSE:HPQ) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,665 shares of the computer maker’s stock after selling 425 shares during the period. Optimist Retirement Group LLC’s holdings in HP were worth $2,077,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

HPQ has been the subject of several analyst reports. HSBC downgraded HP from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. 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 research note on Friday, January 3rd. Finally, TD Cowen boosted their price target 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.23.

HP Trading Up 1.7 %

Shares of HPQ opened at $32.55 on Thursday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The stock has a market cap of $30.53 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 of $33.64 and a two-hundred day moving average of $35.04.

HP (NYSE:HPQ) last issued its quarterly earnings data 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 firm had revenue of $14.06 billion during 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 quarterly 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 EPS. As a group, analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is presently 40.93%.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by insiders.

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.