Foundation Resource Management Inc. Sells 8,686 Shares of HP Inc (NYSE:HPQ)

Foundation Resource Management Inc. lessened its holdings in HP Inc (NYSE:HPQ) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 629,698 shares of the computer maker’s stock after selling 8,686 shares during the quarter. HP makes up approximately 2.4% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 17th largest position. Foundation Resource Management Inc.’s holdings in HP were worth $13,230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. YorkBridge Wealth Partners LLC grew its position in shares of HP by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after buying an additional 200 shares during the period. Evercore Wealth Management LLC grew its position in shares of HP by 14.0% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after buying an additional 836 shares during the period. D.A. Davidson & CO. grew its position in shares of HP by 1.1% during the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after buying an additional 85 shares during the period. Advisory Services Network LLC grew its position in shares of HP by 9.8% during the 2nd quarter. Advisory Services Network LLC now owns 9,217 shares of the computer maker’s stock worth $161,000 after buying an additional 824 shares during the period. Finally, San Francisco Sentry Investment Group CA grew its position in shares of HP by 188.3% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 8,057 shares of the computer maker’s stock worth $161,000 after buying an additional 5,262 shares during the period. Institutional investors and hedge funds own 80.97% of the company’s stock.

Several brokerages have recently commented on HPQ. Mizuho downgraded shares of HP from a “buy” rating to a “neutral” rating in a research report on Thursday. Maxim Group reiterated a “hold” rating and issued a $25.00 target price on shares of HP in a report on Wednesday, November 22nd. Loop Capital reiterated a “buy” rating and issued a $25.00 target price on shares of HP in a report on Wednesday, November 22nd. Citigroup increased their target price on HP from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Zacks Investment Research cut HP from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.42.

In related news, COO Jon E. Flaxman sold 271,968 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $21.34, for a total value of $5,803,797.12. Following the completion of the sale, the chief operating officer now owns 243,096 shares in the company, valued at approximately $5,187,668.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dion J. Weisler sold 80,102 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $21.47, for a total value of $1,719,789.94. Following the completion of the sale, the insider now owns 339,497 shares of the company’s stock, valued at approximately $7,289,000.59. The disclosure for this sale can be found here. Insiders have sold 1,024,851 shares of company stock valued at $22,546,905 in the last three months. 0.62% of the stock is owned by insiders.

HP Inc (NYSE HPQ) traded down $0.02 during mid-day trading on Thursday, reaching $23.30. The company’s stock had a trading volume of 7,317,403 shares, compared to its average volume of 8,050,000. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of -1.98. The stock has a market cap of $38,330.00, a price-to-earnings ratio of 15.74, a PEG ratio of 2.46 and a beta of 1.81. HP Inc has a 1-year low of $14.84 and a 1-year high of $24.10.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 21st. The computer maker reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. The business had revenue of $13.93 billion during the quarter, compared to analyst estimates of $13.36 billion. HP had a negative return on equity of 70.25% and a net margin of 4.85%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. sell-side analysts expect that HP Inc will post 1.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be issued a dividend of $0.1393 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, March 13th. HP’s payout ratio is presently 37.84%.

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HP Profile

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

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