Stolper Co Acquires 2,838 Shares of HP Inc. (NYSE:HPQ)

Stolper Co raised its stake in HP Inc. (NYSE:HPQ) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 206,119 shares of the computer maker’s stock after purchasing an additional 2,838 shares during the quarter. HP accounts for 2.2% of Stolper Co’s portfolio, making the stock its 16th biggest position. Stolper Co’s holdings in HP were worth $6,726,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HPQ. Principal Financial Group Inc. increased its stake in shares of HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after buying an additional 160,268 shares during the period. Tidal Investments LLC raised its holdings in HP by 47.5% in the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after purchasing an additional 47,230 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of HP by 35.0% during the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares in the last quarter. Oak Thistle LLC increased its position in shares of HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock valued at $1,132,000 after buying an additional 21,805 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in HP by 25.2% in the third quarter. Franklin Resources Inc. now owns 1,007,270 shares of the computer maker’s stock worth $37,712,000 after buying an additional 202,613 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HPQ. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. TD Cowen upped their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Citigroup cut their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One investment 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.com, the company presently has an average rating of “Hold” and an average target price of $36.23.

Insider Activity

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 value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the business’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 transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is currently owned by insiders.

HP Price Performance

HP stock opened at $32.79 on Thursday. The firm’s 50 day moving average price is $35.05 and its 200-day moving average price is $35.40. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock has a market cap of $30.75 billion, a P/E ratio of 11.67, a PEG ratio of 2.83 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. As a group, equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.53%. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio is 41.28%.

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.