BlackDiamond Wealth Management LLC Raises Holdings in HP Inc. (NYSE:HPQ)

BlackDiamond Wealth Management LLC raised its position in shares of HP Inc. (NYSE:HPQ) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,466 shares of the computer maker’s stock after buying an additional 1,744 shares during the period. BlackDiamond Wealth Management LLC’s holdings in HP were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after acquiring an additional 12,883,347 shares during the period. Northern Trust Corp boosted its holdings in HP by 6.2% in the 3rd quarter. Northern Trust Corp now owns 10,131,560 shares of the computer maker’s stock valued at $260,381,000 after purchasing an additional 589,775 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after purchasing an additional 9,294,209 shares in the last quarter. Invesco Ltd. boosted its stake in shares of HP by 13.8% during the 3rd quarter. Invesco Ltd. now owns 8,220,098 shares of the computer maker’s stock worth $211,257,000 after acquiring an additional 995,132 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of HP during the 4th quarter worth approximately $187,264,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HP

In related news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is currently owned by company insiders.

HP Price Performance

HPQ stock traded down $0.14 during trading hours on Thursday, reaching $32.87. 2,573,230 shares of the stock were exchanged, compared to its average volume of 7,580,114. The firm’s 50-day moving average is $29.43 and its 200-day moving average is $29.29. The company has a market cap of $32.24 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 2.45 and a beta of 1.06. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same period in the prior year, the business posted $0.75 EPS. The company’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts forecast that HP Inc. will post 3.42 earnings per share for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.35%. HP’s dividend payout ratio is presently 32.16%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of research reports. Bank of America upped their price target on shares of HP from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Barclays raised shares of HP from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $24.00 to $30.00 in a research report on Tuesday. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, HSBC raised shares of HP from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.

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.