Investment House LLC Boosts Stock Holdings in HP Inc. (NYSE:HPQ)

Investment House LLC grew its position in shares of HP Inc. (NYSE:HPQ) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 291,597 shares of the computer maker’s stock after purchasing an additional 2,490 shares during the quarter. Investment House LLC’s holdings in HP were worth $9,515,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. King Luther Capital Management Corp grew its holdings in shares of HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after purchasing an additional 303 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC grew its holdings in shares of HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after purchasing an additional 310 shares in the last quarter. Wedmont Private Capital boosted its stake in HP by 2.6% in the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after buying an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in HP by 2.7% in the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after buying an additional 319 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

NYSE:HPQ opened at $28.68 on Wednesday. The firm has a market cap of $27.04 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $39.80. The business has a 50 day moving average price of $32.16 and a 200-day moving average price of $34.32.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Research analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. HP’s dividend payout ratio is presently 41.37%.

Analyst Ratings Changes

Several brokerages have issued reports on HPQ. Wells Fargo & Company upped their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley cut their target price on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Barclays upped their target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, StockNews.com raised HP from a “hold” rating to a “buy” rating in a research note on Tuesday. One 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, HP presently has an average rating of “Hold” and a consensus price target of $36.14.

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 stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

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.