HP Inc. (NYSE:HPQ) is Harbor Island Capital LLC’s 8th Largest Position

Harbor Island Capital LLC raised its holdings in HP Inc. (NYSE:HPQ) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 353,050 shares of the computer maker’s stock after buying an additional 67,052 shares during the period. HP makes up approximately 5.5% of Harbor Island Capital LLC’s portfolio, making the stock its 8th largest position. Harbor Island Capital LLC’s holdings in HP were worth $11,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC acquired a new stake in shares of HP in the 3rd quarter valued at $25,000. Synergy Asset Management LLC acquired a new stake in shares of HP in the 4th quarter valued at $26,000. Wolff Wiese Magana LLC raised its holdings in shares of HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of HP in the 3rd quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of HP in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

HPQ has been the topic of a number of analyst reports. Hsbc Global Res lowered shares of 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 reduced their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Sanford C. Bernstein raised their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Citigroup cut their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, TD Cowen lifted their price target on shares of 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 assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.23.

Insider Activity

In other news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated Friday, November 29th. The shares were 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 in the company, 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 have sold a total of 273,035 shares of company stock valued at $9,670,068 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

HP Stock Performance

NYSE HPQ opened at $32.58 on Friday. The firm has a market cap of $30.56 billion, a PE ratio of 11.60, a P/E/G ratio of 2.77 and a beta of 1.05. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The firm’s fifty day moving average is $33.59 and its two-hundred day moving average is $35.02.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. Research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 41.28%.

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.