Mutual Advisors LLC Cuts Stock Position in HP Inc. (NYSE:HPQ)

Mutual Advisors LLC lessened its holdings in HP Inc. (NYSE:HPQ) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 56,046 shares of the computer maker’s stock after selling 3,626 shares during the period. Mutual Advisors LLC’s holdings in HP were worth $1,813,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after buying an additional 160,268 shares in the last quarter. Tidal Investments LLC grew its position in shares of HP by 47.5% during the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after purchasing an additional 47,230 shares in the last quarter. Oak Thistle LLC grew its position in shares of HP by 169.3% during 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. MML Investors Services LLC grew its position in shares of HP by 35.0% during the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of HP by 25.2% during the third quarter. Franklin Resources Inc. now owns 1,007,270 shares of the computer maker’s stock valued at $37,712,000 after purchasing an additional 202,613 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of NYSE HPQ opened at $32.73 on Friday. The company has a market cap of $30.69 billion, a P/E ratio of 11.65, a PEG ratio of 2.83 and a beta of 1.05. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The firm has a 50-day simple moving average of $34.46 and a two-hundred day simple moving average of $35.29.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s payout ratio is currently 41.28%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HPQ. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Barclays raised their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, TD Cowen lifted their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One 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. Based on data from MarketBeat, HP has a consensus rating of “Hold” and an average price target of $36.23.

Insider Activity

In other news, insider Alex Cho sold 10,298 shares of HP stock in a transaction that occurred on 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 owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% 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.