Avestar Capital LLC Has $528,000 Stake in HP Inc. (NYSE:HPQ)

Avestar Capital LLC increased its holdings in shares of HP Inc. (NYSE:HPQ) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,047 shares of the computer maker’s stock after buying an additional 3,652 shares during the period. Avestar Capital LLC’s holdings in HP were worth $528,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HPQ. State Street Corp raised its position in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after purchasing an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in HP by 7.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after purchasing an additional 612,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in HP by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock valued at $241,876,000 after buying an additional 678,985 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HPQ has been the subject of several analyst reports. TD Cowen boosted their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Barclays increased their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.23.

HP Trading Up 0.8 %

HPQ stock opened at $33.30 on Friday. The stock has a market cap of $31.23 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. The stock has a 50-day moving average price of $33.28 and a two-hundred day moving average price of $34.86. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79.

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

HP Dividend Announcement

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. This represents a $1.16 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 40.93%.

Insider Activity at HP

In other news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 89,272 shares in the company, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex Cho sold 40,287 shares of HP stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,250,724.80. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% 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.