HP Inc. (NYSE:HPQ) Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC cut its holdings in shares of HP Inc. (NYSE:HPQ) by 20.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 313,921 shares of the computer maker’s stock after selling 82,083 shares during the period. HP comprises approximately 1.3% of Philip James Wealth Mangement LLC’s investment portfolio, making the stock its 14th biggest holding. Philip James Wealth Mangement LLC’s holdings in HP were worth $10,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hourglass Capital LLC increased its holdings in HP by 3.5% in the fourth quarter. Hourglass Capital LLC now owns 138,005 shares of the computer maker’s stock valued at $4,503,000 after buying an additional 4,700 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in HP in the fourth quarter valued at $639,000. Allworth Financial LP increased its holdings in HP by 7.3% in the fourth quarter. Allworth Financial LP now owns 43,276 shares of the computer maker’s stock valued at $1,434,000 after buying an additional 2,962 shares in the last quarter. Principal Securities Inc. increased its holdings in HP by 20.3% in the fourth quarter. Principal Securities Inc. now owns 18,613 shares of the computer maker’s stock valued at $607,000 after buying an additional 3,146 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in HP by 10.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 46,608 shares of the computer maker’s stock valued at $1,521,000 after buying an additional 4,400 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Up 1.2 %

Shares of NYSE HPQ opened at $33.69 on Monday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The stock has a market cap of $31.59 billion, a PE ratio of 11.99, a P/E/G ratio of 2.78 and a beta of 1.05. The company has a 50-day moving average of $33.17 and a 200 day moving average of $34.83.

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

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.44%. HP’s payout ratio is 41.28%.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the business’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 transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alex Cho sold 40,287 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,250,724.80. The trade was a 38.38 % 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 in the last ninety days. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on HPQ. TD Cowen lifted their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their target price 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. Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.23.

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.