Oak Harvest Investment Services Raises Holdings in HP Inc. (NYSE:HPQ)

Oak Harvest Investment Services increased its holdings in HP Inc. (NYSE:HPQ) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,057 shares of the computer maker’s stock after purchasing an additional 2,951 shares during the quarter. Oak Harvest Investment Services’ holdings in HP were worth $5,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. LVW Advisors LLC increased its stake in shares of HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after buying an additional 278 shares during the period. Castleview Partners LLC raised its holdings in 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 purchasing an additional 289 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after purchasing an additional 297 shares during the period. King Luther Capital Management Corp increased its position in shares of HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after buying an additional 303 shares during the period. Finally, Arvest Investments Inc. boosted its position in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 137,094 shares of the firm’s 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 sale, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock worth $9,670,068 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

HP Trading Up 0.6 %

Shares of HPQ opened at $32.81 on Friday. The firm has a market cap of $30.76 billion, a PE ratio of 11.67, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The firm has a fifty day simple moving average of $34.14 and a two-hundred day simple moving average of $35.20.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.99 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.53%. HP’s dividend payout ratio (DPR) is 41.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, TD Cowen increased their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.23.

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.