Claris Advisors LLC MO Grows Stock Position in HP Inc. (NYSE:HPQ)

Claris Advisors LLC MO boosted its holdings in HP Inc. (NYSE:HPQ) by 294.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,933 shares of the computer maker’s stock after buying an additional 5,174 shares during the period. Claris Advisors LLC MO’s holdings in HP were worth $226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. King Luther Capital Management Corp boosted its position in shares of HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after acquiring an additional 303 shares during the last quarter. Auxano Advisors LLC raised its stake in 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 during the period. Wedmont Private Capital boosted its holdings in shares of HP by 2.6% in the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after purchasing an additional 316 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after buying an additional 319 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of HP by 1.6% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 20,384 shares of the computer maker’s stock worth $665,000 after buying an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HPQ. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Morgan Stanley reduced their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, HP currently has a consensus rating of “Hold” and an average price target of $36.14.

HP Price Performance

HP stock opened at $29.94 on Tuesday. The firm’s fifty day moving average price is $32.71 and its 200 day moving average price is $34.61. The company has a market capitalization of $28.22 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. Analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

Insider Buying and Selling

In related news, insider Alex Cho sold 40,287 shares of HP stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,643 shares of company stock worth $4,319,565. Insiders own 0.38% 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.