Elevation Wealth Partners LLC Lowers Position in HP Inc. (NYSE:HPQ)

Elevation Wealth Partners LLC lowered its stake in shares of HP Inc. (NYSE:HPQ) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,259 shares of the computer maker’s stock after selling 435 shares during the period. Elevation Wealth Partners LLC’s holdings in HP were worth $694,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Castleview Partners LLC raised its position in shares of HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after buying an additional 289 shares during the period. King Luther Capital Management Corp raised its holdings in shares of HP by 3.2% in the 3rd 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 during the period. Arvest Investments Inc. lifted its stake in shares of HP by 0.9% in the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after purchasing an additional 310 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of HP by 4.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after purchasing an additional 316 shares during the period. Finally, Wedmont Private Capital increased its position in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after purchasing an additional 316 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HPQ. JPMorgan Chase & Co. decreased their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. TD Cowen increased their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Barclays raised their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, Citigroup decreased their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report 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 company’s stock. Based on data from MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $36.23.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 over the last quarter. 0.41% of the stock is owned by corporate insiders.

HP Stock Down 1.0 %

Shares of HPQ opened at $32.26 on Monday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a market cap of $30.25 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.78 and a beta of 1.05. The business’s 50 day moving average is $33.49 and its two-hundred day moving average is $34.94.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. On average, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 40.93%.

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.