Strategic Financial Concepts LLC Makes New $639,000 Investment in HP Inc. (NYSE:HPQ)

Strategic Financial Concepts LLC bought a new position in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,571 shares of the computer maker’s stock, valued at approximately $639,000.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its stake in HP by 8.2% during the third 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares in the last quarter. KBC Group NV increased its stake in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after acquiring an additional 2,105,104 shares during the last quarter. Pacer Advisors Inc. raised its position in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after purchasing an additional 1,455,138 shares in the last quarter. Finally, Bridgewater Associates LP lifted its stake in HP by 2,649.5% during the third quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock worth $47,298,000 after purchasing an additional 1,270,642 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 over the last quarter. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Citigroup dropped 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. JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, TD Cowen boosted their target price on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One investment 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, HP has an average rating of “Hold” and an average price target of $36.23.

HP Stock Up 1.0 %

Shares of NYSE:HPQ opened at $33.14 on Wednesday. The firm has a market cap of $31.07 billion, a P/E ratio of 11.79, 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 business has a fifty day simple moving average of $33.42 and a 200 day simple moving average of $34.90.

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

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.28%.

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.