640,091 Shares in HP Inc. (NYSE:HPQ) Purchased by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 640,091 shares of the computer maker’s stock, valued at approximately $19,260,000. HP accounts for approximately 1.5% of Cantor Fitzgerald Investment Advisors L.P.’s portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its holdings in HP by 1.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 341,812 shares of the computer maker’s stock worth $10,285,000 after acquiring an additional 3,368 shares during the last quarter. Nixon Peabody Trust Co. purchased a new position in shares of HP in the fourth quarter worth $384,000. Hoylecohen LLC bought a new position in shares of HP during the fourth quarter valued at $225,000. Team Hewins LLC purchased a new stake in shares of HP during the fourth quarter valued at $277,000. Finally, Wade Financial Advisory Inc bought a new stake in HP in the 4th quarter worth about $241,000. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HPQ shares. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and upped their target price for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Barclays upgraded shares of HP from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $24.00 to $30.00 in a research note on Tuesday, May 21st. Finally, Bank of America raised their price target on HP from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Insider Buying and Selling at HP

In other news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the sale, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the transaction, the director now owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock valued at $3,479,287 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

HP Price Performance

Shares of NYSE:HPQ traded up $0.10 during midday trading on Friday, hitting $32.75. The company had a trading volume of 6,503,898 shares, compared to its average volume of 6,080,022. The company has a market cap of $32.12 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 2.45 and a beta of 1.06. The company has a fifty day moving average of $29.52 and a two-hundred day moving average of $29.38. HP Inc. has a 12-month low of $25.22 and a 12-month high of $33.90.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. Research analysts expect that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, June 12th. HP’s dividend payout ratio is currently 32.16%.

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.