Summit Trail Advisors LLC Purchases 2,105 Shares of HP Inc. (NYSE:HPQ)

Summit Trail Advisors LLC lifted its holdings in HP Inc. (NYSE:HPQ) by 27.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,703 shares of the computer maker’s stock after purchasing an additional 2,105 shares during the period. Summit Trail Advisors LLC’s holdings in HP were worth $322,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. State Street Corp increased its position in HP by 8.2% in 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 period. Geode Capital Management LLC increased its position in 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 acquiring an additional 2,477,977 shares during the period. Pacer Advisors Inc. increased its position in HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after acquiring an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after purchasing an additional 612,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in HP by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock valued at $241,876,000 after purchasing an additional 678,985 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HPQ. JPMorgan Chase & Co. dropped their price objective 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 Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. TD Cowen raised their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays boosted 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. Finally, HSBC cut HP from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, HP currently has an average rating of “Hold” and an average target price of $36.23.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction 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 directly owns 64,676 shares in the company, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Performance

HPQ opened at $33.04 on Thursday. The firm has a market cap of $30.98 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 2.78 and a beta of 1.05. The firm’s 50-day simple moving average is $33.34 and its 200-day simple moving average is $34.88. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

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

HP Announces Dividend

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 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 yield of 3.50%. HP’s payout ratio is 41.28%.

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.