Kestra Private Wealth Services LLC Has $1.13 Million Position in HP Inc. (NYSE:HPQ)

Kestra Private Wealth Services LLC lowered its stake in HP Inc. (NYSE:HPQ) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,721 shares of the computer maker’s stock after selling 5,413 shares during the period. Kestra Private Wealth Services LLC’s holdings in HP were worth $1,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Oak Thistle LLC increased its holdings in shares of HP by 169.3% in the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock valued at $1,132,000 after purchasing an additional 21,805 shares in the last quarter. Tidal Investments LLC grew its holdings in HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after acquiring an additional 47,230 shares during the period. MML Investors Services LLC grew its holdings in HP by 35.0% during the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock worth $2,243,000 after acquiring an additional 16,207 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in HP by 4.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock worth $14,581,000 after acquiring an additional 18,557 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Up 0.8 %

HPQ opened at $33.30 on Friday. The stock has a market capitalization of $31.23 billion, a P/E ratio of 11.85, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The firm’s fifty day simple moving average is $33.28 and its 200 day simple moving average is $34.86.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. On average, equities research analysts predict 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. Investors of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.48%. HP’s dividend payout ratio is currently 40.93%.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction 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 $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of analyst reports. Sanford C. Bernstein lifted their target price 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. Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. 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. Finally, TD Cowen lifted their target price on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.