HP Inc. (NYSE:HPQ) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its position in shares of HP Inc. (NYSE:HPQ) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,276 shares of the computer maker’s stock after purchasing an additional 2,962 shares during the quarter. Allworth Financial LP’s holdings in HP were worth $1,434,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HPQ. State Street Corp raised its position in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. KBC Group NV lifted its position in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in HP in the fourth quarter valued at $65,260,000. Finally, Pacer Advisors Inc. grew its position in HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HPQ. TD Cowen upped 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. Sanford C. Bernstein upped their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. 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 report on Wednesday, November 20th. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, Barclays raised their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.23.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,250,724.80. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction 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. This trade represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

HP Trading Up 1.6 %

HPQ stock opened at $34.17 on Wednesday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The business’s 50-day moving average is $33.11 and its 200 day moving average is $34.81. The stock has a market cap of $32.04 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s revenue 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. As a group, equities analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm 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 3.39%. HP’s payout ratio is 40.93%.

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.