Summit Securities Group LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Summit Securities Group LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,700 shares of the computer maker’s stock, valued at approximately $55,000.

Several other institutional investors have also modified their holdings of the company. TIAA Trust National Association boosted its stake in HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after purchasing an additional 302 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after buying an additional 306 shares during the period. Auxano Advisors LLC grew its holdings in HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after buying an additional 310 shares in the last quarter. Wedmont Private Capital increased its position in HP by 2.6% in the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Down 2.6 %

Shares of NYSE HPQ opened at $27.90 on Monday. The stock’s fifty day simple moving average is $31.48 and its 200 day simple moving average is $33.98. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. As a group, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently declared 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 dividend yield of 4.15%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen decreased their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Morgan Stanley lowered their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Sanford C. Bernstein increased 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. Barclays raised their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company increased their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.14.

Insider Buying and Selling

In other news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now owns 169 shares in the company, valued at $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

HP Company Profile

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.