6,781 Shares in HP Inc. (NYSE:HPQ) Bought by GFS Advisors LLC

GFS Advisors LLC bought a new position in HP Inc. (NYSE:HPQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,781 shares of the computer maker’s stock, valued at approximately $221,000.

Several other hedge funds have also modified their holdings of the company. Marshall Wace LLP purchased a new stake in HP during the second quarter valued at approximately $269,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of HP by 9.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,516 shares of the computer maker’s stock valued at $1,454,000 after purchasing an additional 3,722 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of HP by 4.5% during the 2nd quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock valued at $6,181,000 after purchasing an additional 7,678 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of HP by 14.5% in the 2nd quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock worth $4,391,000 after purchasing an additional 15,905 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in HP during the 2nd quarter valued at about $3,373,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Down 0.9 %

Shares of HPQ stock opened at $32.51 on Friday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The stock has a market cap of $30.48 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. The business has a 50-day simple moving average of $34.03 and a 200-day simple moving average of $35.18.

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

HP Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.56%. HP’s payout ratio is 40.93%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HPQ shares. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Sanford C. Bernstein raised their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, TD Cowen raised 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 research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.23.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 137,094 shares of HP 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. The trade was a 60.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the transaction, the insider now owns 56,169 shares in the company, valued at $1,933,898.67. This represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,035 shares of company stock worth $9,670,068. Company 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.